Photo by Steve Russell/Toronto Star via Getty Images

The Stars Group, the Canadian owner of PokerStars, has agreed to acquire Sky Betting & Gaming from CVC Capital Partners and Sky PLC for US$4.7 billion in cash and stock.

Why it's a big deal: Because it creates the world's largest publicly-listed online gambling company, and comes as the U.S. Supreme Court weighs a case that could allow states to legalize sports betting.

Go deeper at Bloomberg: "After its failed attempt to take control of Sky rival William Hill, Stars Group is gaining a significant foothold in the UK — the largest regulated gaming market — and a trove of potential new customers for its online casino and poker offerings. The acquisition also helps accelerate [Stars'] strategy to decrease reliance on the unstable poker business, which accounted for two-thirds of revenue last year. "

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Trump's new TikTok threat

Photo illustration: Aïda Amer/Axios. Photo: Jim Watson/AFP via Getty Images

President Trump said twice Monday that the U.S. Treasury would need to get a portion of the sale price of TikTok, as a condition of regulatory approval.

Why it matters: This is akin to extortion — the sort of thing you'd expect to hear on a wiretap, not from the White House in front of reporters.

Ford names James Farley as new CEO amid ongoing turnaround effort

James Hackett, left, is retiring as Ford CEO. Jim Farley, right, takes over Oct. 1. Photo: Ford

Ford announced Tuesday that James Farley will take over as its next CEO, replacing James Hackett, 65, who is retiring after three years in the job.

Why it matters: It leaves Farley to complete the company's ongoing turnaround effort. The transition will be that much harder as the industry tries to navigate the coronavirus-induced economic slowdown which shuttered Ford plants for two months on the eve of some of its most important vehicle launches.

Updated 4 hours ago - Politics & Policy

Watch the full "Axios on HBO" interview with President Trump

In this episode of “Axios on HBO”, President Trump discusses his handling of the coronavirus pandemic, the upcoming election and much more with National Political Correspondent Jonathan Swan.

The interview was filmed on Tuesday, July 28 and aired Monday, Aug. 3 on HBO.