Cains recently assisted The Stars Group, a leading provider of technology-based product offerings in the global gaming and interactive industries and owner of brands such as “Pokerstars”, “BetStars” and “Full Tilt”, with its acquisition of Sky Betting & Gaming (“SBG”). The acquisition has resulted in the world’s largest publicly listed online gaming company and brings together two iconic brands. Consideration for the acquisition of SBG was comprised of a combination of cash and approximately 37.9 million newly-issued common shares of The Stars Group. The cash consideration of the acquisition was financed through cash on the balance sheet, proceeds from The Stars Group’s recent equity offering and newly issued debt consisting of:

  • $100 million from its revolving credit facility, which was increased to $700 million;
  • $4,567 million equivalent in new first term loans; and
  • $1,000 million in unsecured senior notes due July 2026.

The Cains team consisted of Tristan Head, Richard Vanderplank, Alex Poole-Wilson, Matthew Quinn and Matthew Wilkinson.

Commenting on the deal, director Tristan Head said: “The Stars Group is a long-term client of the firm  and we are delighted to have been involved in such a significant transaction for them. This matter involved multiple jurisdictions and moved at a fast pace, demonstrating our experience in handling time critical transactions of a complex nature and showcasing the breadth and depth of expertise within our corporate team.”