Competition authorities plan to review the £10 billion (US$12.9 billion) merger between the two gambling groups Flutter, owner of Paddy Power, and Stars Group, which owns Sky Betting and Gaming, reported the Financial Times.
The UK’s Competition and Markets Authority (CMA) announced it would investigate whether the deal would result in a “substantial lessening of competition” in the UK gambling market.
The probe follows the CMA’s controversial last-minute intervention into a merger between the food delivery platforms Just Eat and Takeaway.com, which forced the companies to reconsider the timetable for the deal.
An investigation into the deal between Flutter and Stars, which was announced in October, had been expected by some, given recent moves by the CMA to focus more on competition online.
Brands controlled by Flutter and Stars make up around 40% of the UK’s online sports betting market. Analysts at Redburn estimated that the two companies control around 26% of the overall online gambling market in the UK, close to the 25% threshold over which the CMA takes an interest.
Full Content: Financial Times
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
UK Probes Lindab’s Acquisition of HAS-Vent Amid Fears of Market Monopoly
Apr 28, 2024 by
CPI
Shein Faces EU Regulations Over User Data
Apr 28, 2024 by
CPI
Google Fights Back Against US Antitrust Lawsuit
Apr 28, 2024 by
CPI
US Homeland Security Establishes Blue-Ribbon Board with Tech CEOs to Advise on AI
Apr 28, 2024 by
CPI
FTC Accuses Amazon Executives of Using Disappearing Messaging Apps to Conceal Evidence
Apr 28, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI