Michael Tabor acquires BetVictor

nessman Michael Tabor has taken over bookmaker BetVictor in a move which sees the firm’s chairman and CEO leave their roles.

The deal, which has been agreed for an undisclosed sum, sees industry figurehead Victor Chandler step down as chairman along with chief executive Michael Carlton, with both men assuming consultancy roles.

Racehorse owner Tabor, a founding shareholder in BetVictor, sold the Arthur Price chain of betting shops to bookmaker Coral for a reported £27m in 1995.

He said: “I believe the BetVictor brand has enormous potential and is well-placed to continue its expansion with further investment and strategic development."

Victor Chandler added: “Having owned and led this business for more than 40 years, I looked towards the future and I decided that the company would be best served under new ownership and leadership.

"I have known Mr Tabor for many years and I am confident that the company will continue to thrive under his ownership."