This Acquisition by Fanduel's Parent Company Is Creating an Online Gambling Monster
Competition in the online gambling industry is heating up. In 2018, the U.S. Supreme Court cleared the way to allow legal sports gambling, and many states have already changed their local laws to allow it to take place within their borders. While online gambling is a lot bigger than just sports betting, those legislative changes have helped catalyze growth for the entire industry.
Established gaming companies have taken note and have been making investments to capitalize on that growth. One of the most notable investments made has been Flutter Entertainment's (OTC: PDYP.Y) (LSE: FLTR) merger with The Stars Group in a deal valued at over $12 billion.
Prior to the Stars Group merger (completed on May 5), Flutter Entertainment was an Ireland-based company with gambling brands around the world, but with an emphasis in the U.K. and Ireland.
Source Fool.com
