TORONTO, June 26, 2018 /PRNewswire/ --
The Stars Group Inc. (Nasdaq: TSG)
(TSX: TSGI) ("The Stars Group" or the "Company") announced today
the closing of its previously announced underwritten public
offering of common shares (the "Offering") at a price of
US$38.00 per common share. A total of
17,000,000 common shares were sold by the Company and 8,000,000
common shares were sold by certain shareholders of the Company (the
"Selling Shareholders"). The net proceeds to the Company, after
underwriting discounts and commissions, but before estimated
expenses of the Offering payable by the Company, are approximately
US$622 million.
The Company and the Selling Shareholders have granted the
underwriters for the Offering an over-allotment option to purchase
up to 1,875,000 and 1,875,000 additional common shares,
respectively. The over-allotment option is exercisable for a period
of 30 days from June 21, 2018, the
date of the pricing of the Offering.
The Stars Group intends to use the net proceeds from the
treasury offering, together with debt financing and cash on hand to
fund the previously announced acquisition of Sky Betting &
Gaming, a leading mobile-led betting and gaming operator (the
"Acquisition"). If for any reason the Acquisition does not close,
the Company intends to use the net proceeds from the Offering for
general corporate purposes.
Morgan Stanley, J.P. Morgan and Deutsche Bank Securities acted
as the joint book-running managers and representatives of the
underwriters for the Offering. The additional joint book-running
managers for the Offering were Goldman Sachs & Co. LLC,
Barclays, BMO Capital Markets and Macquarie Capital (USA) Inc. The co-managers for the Offering
were Blackstone Capital Markets, Cormark Securities (USA) Limited, Canaccord Genuity Corp., Union
Gaming Securities, LLC and Investec Bank plc.
PJT Partners LP acted as strategic capital markets advisor to
the Company in connection with the Offering.
The common shares were offered in each of the provinces and
territories of Canada by way of a
prospectus supplement dated June 21,
2018 (the "Prospectus Supplement") to the Company's short
form base shelf prospectus dated January 16,
2018. The common shares were also offered in the United States pursuant to a prospectus
supplement to the Company's registration statement on Form F-10
(the "Registration Statement") filed with the U.S. Securities and
Exchange Commission under the U.S./Canada Multijurisdictional
Disclosure System. A copy of the Prospectus Supplement and related
short form base shelf prospectus, containing important detailed
information about the Offering, may be found on SEDAR at
http://www.sedar.com and on EDGAR at http://www.sec.gov, and a
copy of the Registration Statement can be found on EDGAR at
http://www.sec.gov. Copies of the Prospectus Supplement and the
Registration Statement may also be obtained in the United States from Morgan Stanley,
Attention: Prospectus Department, 180 Varick Street, 2nd Floor,
New York, NY 10014; J.P.
Morgan Securities LLC, Attention: Broadridge Financial Solutions,
1155 Long Island Avenue, Edgewood,
NY 11717; or Deutsche Bank Securities Inc., Attention:
Prospectus Group, 60 Wall Street, New
York, NY 10005-2836 and in Canada from J.P. Morgan Securities Canada
Inc., Attention: Broadridge Financial Solutions, 1155 Long Island
Avenue, Edgewood, NY
11717.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any securities, nor shall there be
any sale of securities in any jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such
jurisdiction.
About The Stars Group
The Stars Group is a leading provider of technology-based product
offerings in the global gaming and interactive entertainment
industries. The Stars Group directly or indirectly, including
through its Stars Interactive Group division, owns gaming and
related consumer businesses and brands, such as PokerStars,
PokerStars Casino, BetStars, Full Tilt, and the PokerStars Players
No Limit Hold'em Championship, European Poker Tour, PokerStars
Caribbean Adventure, Latin American Poker Tour, Asia Pacific Poker
Tour, PokerStars Festival and PokerStars MEGASTACK live poker tour
and event brands. These brands together have millions of registered
customers globally and collectively form the largest poker business
in the world, comprising online poker games and tournaments,
sponsored live poker competitions, marketing arrangements for
branded poker rooms in popular casinos in major cities around the
world, and poker programming and content created for television and
online audiences. The Stars Group, through certain of these and
other brands, also offers non-poker gaming products, including
casino and sportsbook. The Stars Group, through certain of its
subsidiaries, is licensed or approved to offer, or offers under
third party licenses or approvals, its product offerings in various
jurisdictions throughout the world, including in Europe, both within and outside of the
European Union, Australia, the
Americas and elsewhere. In particular, The Stars Group, through its
subsidiaries, currently holds gaming licenses or approvals in
18 jurisdictions, with PokerStars being the world's most
licensed online gaming brand, holding 17 of such licenses or
approvals.
Cautionary Note Regarding Forward Looking Statements and
Other Information
This news release may contain forward-looking statements and
information within the meaning of applicable securities laws,
including, without limitation, the planned Acquisition, the use of
proceeds from the Offering, and plans regarding the financing of
the Acquisition. Forward-looking statements can, but may not
always, be identified by the use of words such as "anticipate",
"plan", "continue", "estimate", "expect", "may", "will", "intend",
"could", "might", "would", "should", "believe", and similar
references to future periods or the negatives of these words and
expressions. These statements are based on management's current
expectations and are subject to a number of risks, uncertainties,
and assumptions, including litigation risk, market and economic
conditions, business prospects or opportunities, future plans and
strategies, projections, anticipated events and trends and
regulatory changes that affect The Stars Group, its subsidiaries,
and its and their respective customers and industries. There can be
no assurance that actual results will not differ materially from
those expressed or implied in forward-looking statements. Undue
reliance should not be placed on forward-looking statements. Please
refer to The Stars Group's most recent annual information form and
annual and interim financial statements and management's discussion
and analysis for more information about the factors, assumptions
and risks that may apply to The Stars Group's forward-looking
statements. Each forward-looking statement speaks only as of the
date hereof, and The Stars Group undertakes no obligation to
correct or update any forward-looking statement, whether as a
result of new information, future events or otherwise, except as
required by applicable law.
For investor relations, please contact: Tim Foran, Tel: +1 437-371-5730,
ir@starsgroup.com ; For media inquiries, please contact:
Eric Hollreiser,
Press@starsgroup.com