Skybet takeover deal with The Stars Group approved

News on 11 Oct 2018

There was momentous news for Skybet and The Stars Group investors Thursday afternoon as the latter company announced that it had completed its $4.7 billion acquisition of SkyBet following the approval of the agreement by the UK Competition & Markets Authority.

The announcement was accompanied by details of a top management restructuring plan for the company, where former Sky Betting and Gaming CEO Richard Flint becomes executive chairman of Sky Betting and Gaming, whilst former CFO Ian Proctor moves up to the CEO position in the company, and Conor Grant becomes COO, moving up from his previous position as director of Sky Vegas, Sky Casino, Sky Bingo and Sky Poker.

Grant will report to Proctor, whilst Flint and Proctor will report to The Stars Group CEO Rafi Ashkenazi, who said in a company statement:

“We believe these appointments position us well to deliver our strategy to become the world’s favourite online gaming destination.”

Flint added: “I am confident that the new management structure, which includes an operational board for SBG, will allow us to maintain our unique culture that has delivered success over the years and continue delivering market share gains in the UK online betting and gaming market, building on our position as the UK’s most popular online betting brand.”