Flutter Entertainment, the owner of the Paddy Power brand, has said the Australian Competition and Consumer Commission has given informal approval for its potential merger with Stars Group.
If given the formal go-ahead, the deal would create the most significant online betting and gaming operators in the world.
The deal, still subject to approval by the Australian Foreign Investment Review Board, as well as other international regulators in Europe and elsewhere still could halt the merger down the line.
Ireland-based Flutter announced its intention to merge with the Toronto listed Stars Group in October last year to build a combined business with £3.8bn ($4.9bn).
The potential merger will see Flutter’s six million customers merge with Stars four million.
Earlier in February, UK financial regulator, the Competition and Markets Authority said it would investigate the proposed merger, before given its full approval.
The CMA said it would consider whether the merger would result in the “lessening of competition within any market or markets in the UK,” it said on February 6.
Other conditions need to be met include the Financial Conduct Authority, London Stock exchange (where Flutter Entertainment is listed) and Euronext in Dublin (the successor to the Irish Stock Exchange).
