Shares in betting firm Flutter Entertainment jumped in Dublin today after it said it expects to complete its acquisition of The Stars Group on May 5 following shareholder and regulatory approvals.
The deal between the Paddy Power owner and the Poker Stars owner will create the world's largest online betting and gambling company by revenue.
Earlier this month, Flutter said its revenues had been more resilient to coronavirus disruption than expected.
It said the US gaming market and continued Australian horse racing was partly offsetting a global sports events shutdown.
With big events like the English Premier League on hold and the 2020 European Championships postponed, the list of competitions on the Paddy Power mobile phone app now includes Belarusian reserve league and Tajikstani top flight soccer.
Peter Jackson, Flutter's group chief executive, said the enlarged group brings together exceptional brands, products and businesses, a hugely talented and experienced team, and a diverse global presence.
"The strength of our combined portfolio of assets means that we approach the future with confidence in these uncertain times," Peter Jackson said.
"Both businesses have a strong legacy of leadership when it comes to responsible gambling. As a combination, we are determined to deliver on our commitment to drive a race to the top when it comes to responsible gambling best practice across the sector," he added.
In a note, Davy said the deal comes at an important time for the betting industry, with recent developments impacting both the shape of global opportunities and, importantly, the competitive landscape.