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Sky Betting & Gaming consists of five core brands: Sky Bet, Sky Vegas, Sky Casino, Sky Poker and Sky Bingo. In 2015, Sky plc sold an 80 per cent stake in the company to CVC Capital Partners for £600 million, [ 1 ] with Sky retaining a 20% stake in the company and agreeing to a long-term licence of the Sky brand. [ 2 ]
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In January 2022, Flutter acquired the online bingo company Tombola. [ 27 ] In November 2022, an arbitrator ruled that Fox Corporation had an option to acquire an 18.6% stake in FanDuel for $3.7 billion, based on a valuation of $20 billion, with the price increasing by 5% for each year of the 10-year option.
The game of bingo has been able to sidestep many of the laws which ban gambling online. In England, for instance, section 65 of the 1928 Royal Commission Report on Gambling states, “Bingo is a lottery played as a game.” [5] The report details that a game of chance is different than that of casino games, even requiring separate licensing.