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NEWS 11 October 2018

New CEO appointed as CMA clears The Stars Group's Sky Bet takeover

By Matthew Enderby

The Stars Group has announced the completion of its Sky Betting & Gaming (SBG) acquisition after the Competition & Markets Authority cleared the move.

Following clearance of the $4.7bn takeover, The Stars Group has immediately begun a re-structure of senior management positions.

Richard Flint has been appointed Executive Chairman of SBG, ending a lengthy stint as CEO. Ian Proctor moves from the role of CFO to CEO and Conor Grant becomes COO, previously working as Director of Sky Vegas, Sky Casino, Sky Bingo and Sky Poker.

Flint and Proctor will report to The Stars Group CEO Rafi Ashkenazi, while Grant reports to Proctor.     

Ashkenazi said: "I am delighted to announce SBG’s new senior management structure. We believe these appointments position us well to deliver our strategy to become the world’s favourite online gaming destination."

Flint has been with SBG for nearly 16 years and served as CEO for the last 10.

He said: “I am looking forward to helping shape the next chapter of growth for SBG as part of The Stars Group.

"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.”

RELATED TAGS: Online | Mergers & Acquisitions | Sports Betting
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