Sky has completed the sale of its remaining 20% stake in Sky Betting & Gaming to The Stars Group Inc. for a total of £635m.
The deal follows the 2015 sale of Sky’s majority stake to CVC Capital Partners and means shareholders have had around £1.4bn in value realised from the betting firm.
Launched in 2001, Sky Bet grew to become one of the leading operators in the UK’s online betting and gaming markets, benefiting from a strong partnership with Sky Sports and Sky’s technology and product innovation expertise.
After selling a majority stake to CVC in 2015, Sky continued to work closely with its partners at CVC and the SBG management team to drive the further development of the business. As part of the transaction, Sky will continue to license the Sky Betting & Gaming brands to The Stars Group.