Stars Group CEO praises staff ahead of imminent Flutter merger


Stars Group CEO praises staff ahead of imminent Flutter merger

By Iqbal Johal

The Stars Group (TSG) CEO Rafi Ashkenazi has posted somewhat of a farewell message, ahead of the operator’s merger with Flutter Entertainment.

Yesterday (30 April) Flutter announced its acquisition of TSG will be completed on 5 May after receiving regulatory, shareholder and competition authority clearances.

The deal will see Flutter acquire all of TSG’s issued and outstanding shares and create a merged entity worth £3.8bn ($4.7bn), which was first announced last October.

In an update in March, it was announced Ashkenazi will not become COO of the combined company, as previously decided, but will instead take up the role of consultant to Flutter, advising the CEO on the TSG business.

Ashkenazi said: «I would like to take the opportunity to thank everyone who was a part of this great and amazing journey, first and foremost my Stars Group colleagues across the world and across all offices.

«You have been my bedrock, the base for everything I did, none of it would have been achieved without you. My management team who were always there to support me day and night through good times and bad times.

«Our shareholders that allowed us to move forward and transform the company from a single brand and a single product to a global, multi-brand, multi-product giant, and our loyal customers that are enjoying our offerings each and every day.

«It has been an absolute pleasure and a privilege to work with so many people in the industry, including CEOs of many of our competitors.»