The Stars Group

Corporate History and Major Transactions

The Stars Group's modern corporate identity was forged through a landmark acquisition in 2014. In June of that year, the company then known as Amaya, led by CEO David Baazov, agreed to purchase the parent company of PokerStars and Full Tilt Poker from founders Isai and Mark Scheinberg for $4.9 billion. The deal, which closed on August 1, 2014, was financed with $3 billion in borrowed funds and instantly transformed Amaya into the world's largest publicly listed online gambling company. This acquisition provided the company with the industry-leading poker platforms that defined its brand for years to come. The final payment for this transaction was made on May 31, 2017, and the company continued its expansion through further strategic purchases. In April 2018 it acquired the UK-focused sports betting operator Sky Betting & Gaming for $4.7 billion in cash and stock, and in December 2019 it completed the acquisition of the Australian online sports betting business BetEasy.

Leadership changes and legal challenges marked this period of rapid growth. David Baazov took an indefinite leave of absence as CEO in March 2016 following charges by Canadian regulators related to securities fraud, and he resigned from the company in August 2016. He later dropped a bid to take the company private in December of that year. The legal proceedings against him continued until June 6, 2018, when the Court of Quebec ordered a Stay of the Proceedings, which is the equivalent to a dismissal with prejudice under U.S. law. Rafi Ashkenazi served as interim chief executive officer from March 2016 and was appointed permanent CEO in November 2016. Under his leadership, the company rebranded, changing its name from Amaya to The Stars Group Inc. on August 1, 2017, to better reflect its flagship poker brands. The company's final chapter began on October 2, 2019, when Flutter Entertainment announced an agreement to acquire The Stars Group for $6 billion, a sale which was finalized on May 5, 2020.

Core Brands and Gaming Products

The Stars Group's portfolio was built around several powerful online gaming brands, each serving different segments of the market. Its flagship property was PokerStars, the world's largest online poker room, offering a vast array of cash games and tournaments in variants like Texas Hold'em and Omaha. The PokerStars brand also extended to PokerStars Casino, which provided a full suite of online casino games including slots and table games. Another historic brand in its stable was Full Tilt Poker, a once-rival platform that was revived and maintained as a separate poker site following its acquisition. For sports betting, the company operated the BetStars brand in international markets, and its most significant foray into the United States market came through a partnership with Fox Sports announced in May 2019 to develop the Fox Bet platform. This deal made Fox the first major U.S. sports broadcaster to introduce a co-branded real-money sports betting platform, with Fox Corporation taking a 4.99 percent stake in The Stars Group for $236 million and securing an option to acquire up to a 50 percent stake in its U.S. operations within ten years.

The company's products were designed for both desktop and mobile play, with dedicated apps available for download on Android and iOS devices. PokerStars software could also be downloaded for Mac and PC, providing a consistent gaming experience across platforms. The company emphasized security and fair play, using random number generator technology and holding licences from multiple reputable jurisdictions. Its online gaming division, Stars Interactive, was headquartered in Onchan, Isle of Man, and held licences or related approvals to operate in 17 jurisdictions. This regulatory compliance allowed it to offer real-money poker, casino games, and sports betting across Europe, North America, and other international markets. The company provided responsible gaming tools, including deposit limits and self-exclusion options, and held player funds in segregated accounts for security.

• PokerStars: The world's leading online poker platform.
• PokerStars Casino: An integrated online casino offering slots and table games.
• Full Tilt Poker: A secondary online poker room with a dedicated player base.
• BetStars: The company's international sports betting brand.
• Fox Bet: A U.S. sports betting platform developed in partnership with Fox Corporation.
• Sky Betting & Gaming: A major UK-focused sportsbook and casino operator acquired in 2018.

Operations in Canada and Regulation

As a Canadian-headquartered company, The Stars Group had a complex relationship with domestic regulations. While its corporate offices were in Toronto and its shares traded on the Toronto Stock Exchange, the offering of real-money online gambling to Canadian residents was subject to provincial jurisdiction. In Ontario, the company operated a dedicated site, on.pokerstars.ca, following the province's market liberalization, which required a separate licence and platform for Ontario players. The company's history also included significant legal disputes in North America, most notably a 2015 ruling by a Kentucky court ordering it to pay $870 million in penalties related to resident losses on PokerStars between 2006 and 2011. This judgment was overturned by the Kentucky Court of Appeals in December 2018, which found the state lacked standing to claim such damages under the Loss Recovery Act.

The regulatory scrutiny extended to its leadership, as seen in the securities fraud charges brought by Quebec's Autorité des Marchés Financiers against former CEO David Baazov. These proceedings highlighted the compliance expectations for publicly traded gaming companies in Canada. Despite these challenges, the company maintained its status as one of the world's most licensed online gaming operators, leveraging its Isle of Man and Maltese licences to serve international markets. Its ability to operate within diverse legal frameworks was a key component of its business model, allowing it to offer services in jurisdictions where online gambling was regulated. The completion of its sale to Flutter Entertainment in 2020 further consolidated the global online gambling industry, with the combined entity operating under strict regulatory oversight in numerous countries, including Canada.

Market Position and Financial Performance

The Stars Group's financial trajectory was defined by its aggressive acquisition strategy and the resulting debt load. The $4.9 billion purchase of PokerStars' parent company in 2014 was a major event that brought immense revenue-generating assets but also significant financial obligations. The company's subsequent acquisition of Sky Betting & Gaming for $4.7 billion in 2018 further expanded its revenue streams into the European sports betting market. These moves solidified its position as a top-tier publicly traded gambling company, with shares listed on both the Nasdaq and the Toronto Stock Exchange. Its market valuation reflected investor confidence in its brand portfolio and global reach, culminating in the $6 billion acquisition offer from Flutter Entertainment. The partnership with Fox Corporation included an option for Fox to acquire up to a 50 percent stake in The Stars Group's U.S. operations within a decade, highlighting the value placed on its American market entry strategy.

The table below outlines the major acquisitions that shaped the company's portfolio and scale. In June 2014, the company, then called Amaya, agreed to buy the parent company of PokerStars and Full Tilt Poker for $4.9 billion. In April 2018, the company acquired UK-focused Sky Betting & Gaming for cash and stock worth $4.7 billion. In 2018, it acquired a majority stake in CrownBet, which was later rebranded to BetEasy. On December 3, 2019, The Stars Group announced it had completed its full acquisition of the Australian online sports betting business BetEasy. The sale of The Stars Group to Flutter Entertainment was completed on May 5, 2020.

While specific annual revenue figures are not detailed, the scale of these transactions indicates the company operated at a multi-billion dollar revenue level. The final sale to Flutter for $6 billion represented a substantial return for shareholders from the time of the PokerStars acquisition. The company faced periods of stock volatility linked to legal and regulatory developments, such as a 2015 Kentucky court order to pay $870 million in penalties, which was later overturned. The integration of its brands into Flutter's portfolio, which includes FanDuel, created one of the world's largest online gambling companies by market share and revenue.

The Online Casino Game Development Context

While The Stars Group was primarily an operator and brand owner rather than a traditional casino game development studio, its success was linked to the broader ecosystem of online casino content creation. The company licensed games from numerous third-party developers and content aggregators to populate its PokerStars Casino and other platforms. The online casino game development industry is typically segmented into content suppliers that license finished games, aggregators that distribute content from multiple suppliers, and custom developers that build original games for specific operators. Major studios noted for their proprietary slot games represent the type of content suppliers whose games would have been featured on The Stars Group's sites. These developers focus on creating engaging game mechanics, high-quality visuals, and certified random number generators to ensure fair play.

Another relevant and rapidly growing segment is social casino game development, which creates free-to-play games that simulate casino experiences using virtual currencies and in-app purchases. Although The Stars Group's core business was real-money gambling, the social casino model shares many design principles, such as retention loops, reward systems, and live operations updates to keep players engaged. The global social casino market was projected to surpass $9 billion in 2026, demonstrating the significant economic activity in adjacent gaming sectors. Companies that excel in this space rely on data analytics and behavioural psychology to optimize player engagement and monetization. For a large operator like The Stars Group, understanding these development trends was crucial for curating a compelling game library and maintaining a competitive user experience across its digital properties.

• Content Suppliers: Studios develop and license proprietary casino games.
• Aggregators: Platforms distribute content from multiple game suppliers.
• Custom Developers: Studios build original games to an operator's specific specifications.
• Social Casino: A free-to-play segment using virtual economies, distinct from real-money gambling.

Post-Acquisition Legacy and Brand Continuity

Following its acquisition by Flutter Entertainment in 2020, The Stars Group ceased to exist as an independent corporate entity. Its brands, however, continue to operate as key components of Flutter's global portfolio. PokerStars remains one of the world's most recognizable online poker brands, while Sky Bet continues as a leader in the United Kingdom and Ireland. The Fox Bet partnership evolved under the new ownership structure, with Fox Corporation securing an option to acquire an 18.5 percent stake in Flutter's U.S. subsidiary, FanDuel Group, in 2021. This integration created a gambling company with extensive scale in online sports betting, poker, and casino gaming. The corporate history of The Stars Group, from its origins as Amaya to its major acquisitions, represents a significant chapter in the consolidation of the online gambling industry.

The company's impact on Canada was notable, as it was one of the few Canadian-headquartered firms to achieve global prominence in online gaming. Its journey also highlighted the intense regulatory scrutiny faced by publicly traded gambling companies, from securities investigations to jurisdictional legal battles. For Canadian consumers, the legacy of The Stars Group is most visible through the continued availability of the PokerStars platform in regulated markets like Ontario. The brands it cultivated continue to serve millions of players worldwide, offering poker, casino games, and sports betting under the ownership of one of the industry's largest conglomerates. The dissolution of The Stars Group as a standalone company marked the end of an era for Canadian gaming but ensured the enduring presence of its flagship products in the global marketplace.

Questions about The Stars Group

Can I play PokerStars casino games for real money?

Yes, the PokerStars Casino offered real-money online casino games, including slots and table games, in jurisdictions where it held a valid licence. This was a core part of The Stars Group's product portfolio alongside its poker offerings. Players could access these games through downloadable software or via web browsers, with funds held in segregated accounts for security. Real-money play is strictly for adults, and the platform included features to help players manage their spending and gameplay time.

How do I download the PokerStars poker software?

The PokerStars software could be downloaded for free from the official PokerStars website. It was available for PC and Mac computers, as well as through mobile apps for Android and iOS devices. The download and installation process was designed to be straightforward, giving players access to a wide range of poker games, tournaments, and casino content. After downloading, users could create an account and, if in a regulated market, deposit funds to play for real money.

What happened to The Stars Group company?

The Stars Group Inc. was acquired by the Irish gambling conglomerate Flutter Entertainment. The sale was announced in October 2019 and completed on May 5, 2020, for a reported $6 billion. Following this acquisition, The Stars Group was integrated into Flutter's operations and no longer exists as an independent, publicly traded Canadian company. Its major brands, including PokerStars, Full Tilt, and Sky Bet, continue to operate under Flutter's ownership.

What is PokerStars and is it legal in Canada?

PokerStars is an online poker, casino and sports betting brand that was a key product of The Stars Group. The Stars Group was a Canadian online gambling company headquartered in Toronto. Its online gaming division, Stars Interactive, held licences or approvals to operate from 17 jurisdictions and offered products in Europe, North America and elsewhere. In jurisdictions where it operated, it either maintained a local licence or used multi-jurisdictional licences issued by the Isle of Man or Malta. The company was sold to Flutter Entertainment on May 5, 2020.

Who owned PokerStars before Flutter?

PokerStars was owned by The Stars Group Inc before its acquisition by Flutter Entertainment. In June 2014, The Stars Group, then called Amaya and led by CEO David Baazov, agreed to buy the parent company of PokerStars and Full Tilt Poker from Isai and Mark Scheinberg for $4.9 billion. This takeover made Amaya the world's biggest publicly listed online gambling company at the time. The deal closed on August 1, 2014, with the final payment made on May 31, 2017. Prior to this 2014 sale, PokerStars was privately owned by its founders, Isai and Mark Scheinberg.

Sources and further reading

• The Stars Group (Wikipedia)
• Casino Game Development Companies 2026: Studios Compared (tiggames.com)
• Social Casino Game Development 2026: Mechanics, Monetization (galaxy4games.com)
• Casino Game Development Company for Custom Games (windstargames.com)
• Top 13 Online Casino Game Development Companies for 2026 ... (innosoft-group.com)
• Welcome to PokerStars™ (on.pokerstars.ca)
• Play Online Poker | PokerStars™, Trusted for 20+ Years (pokerstars.com)

Checked by the Nosy Mag desk. Last updated 2026-11-09.