UK-based Sky Betting and Gaming is to be sold to a Canadian company for around £2.5 billion, it has been announced.

The Stars Group Inc - which owns PokerStars - said the deal will make them the largest publicly listed online gaming company in the world.

Sky Betting and Gaming (SBG) is currently in the middle of a multi-million-pound sponsorship deal with the English Football League.

Sky Betting and Gaming sponsors the Football League (Richard Sellers/PA)

Rafi Ashkenazi, Stars Group's chief executive, said: "The acquisition of Sky Betting and Gaming is a landmark moment in The Stars Group's history.

The Stars Group has agreed to acquire Sky Betting & Gaming, bringing together @pokerstars and @skybet under one group and forming world's largest iGaming Company. Release here website #WelcomeToTheFamily

- Eric Hollreiser (@erichollreiser) April 21, 2018 "SBG operates one of the world's fastest growing sportsbooks and is one of the United Kingdom's leading gaming providers.

"SBG's premier sports betting product is the ideal complement to our industry-leading poker platform.

"The ability to offer two low-cost acquisition channels of this magnitude provides The Stars Group with great growth potential and will significantly increase our ability to create winning moments for aspoker our customers."

The deal is expected to be completed later this year.

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