The Stars Group welcomes Supreme Court ruling permitting sports betting
The Stars Group reacted to the decision by the United States Supreme Court to strike down, as an unconstitutional exercise of federal power, the nearly 30-year ban on sports betting under the Professional and Amateur Sports Protection Act, or PASPA. Congress enacted PASPA in 1992, which resulted in all states, other than Nevada and three others, being prohibited from authorizing sports betting. "The decision by the Supreme Court is an important step forward in the regulation of sports betting in the U.S.," said the company. The decision follows The Stars Group's recent announcement of its agreement to acquire Sky Betting & Gaming, the fastest growing established sports betting operator in the U.K.. The acquisition of Sky Betting & Gaming, which is expected to close in the Q3 will create the world's largest publicly listed online gaming company.