Flutter Entertainment, a bookmaking business created by the merger of Paddy Power and Betfair, completed the merger with The Stars Group, a Canadian gaming and online gambling company traded on Nasdaq and the Toronto Stock Exchange, into a £10bn ($12.3bn) group. Under the terms of the combination, TSG Shareholders will be entitled to receive 0.2253 new Flutter shares in exchange for each TSG Share. "The combination represents a great opportunity to deliver a step change in our presence in international markets and ensure we are ideally positioned to take advantage of the exciting opportunity in the US through a media relationship with FOX Sports as well as our development of US sports betting through Flutter's FanDuel and TSG's FOX Bet brands. We are committed to these two high quality brands to drive the growth of the Combined Group in the US." Peter Jackson, CEO of Flutter.