Sky Bet appoints new CEO as regulator okays acquisition by Stars

Ian Proctor has become the CEO of Sky Betting and Gaming (SBG) after the UK’s competitions regulator its $4.7bn (£3.6bn/€4bn) takeover by The Stars Group. Proctor replaces Richard Flint, who had been working as the CEO for 10 years, in the top post.

The CMA will publish a full explanation of its decision to rubber-stamp the deal next week.

Stars, which struck the acquisition deal with CVC Capital Partners and Sky PLC, said that its integration plans, including “the delivery of expected cost synergies,” would now be executed.

Ashkenazi has previously said that the takeover would “dramatically improve The Stars Group’s revenue diversity, creating a balanced spread across poker, casino and sportsbook with a broad geographic reach.”

Stars also confirmed that it had appointed Andy Burton as senior vice-president of its global sports platform division, as well as Vaughan Lewis as group director of investor relations and corporate communications.

“We believe these appointments position us well to deliver our strategy to become the world’s favourite iGaming destination,” Ashkenazi said.

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.”

Source: iGamingBusiness