iGaming Business – Victor Chandler is to step down as chairman of BetVictor after it was announced this (Friday) afternoon that the online casino and sportsbook operator has been acquired by racecourse owner Michael Tabor.
The value of the deal was not disclosed, but the transaction has received regulatory approval in principle from the Gibraltar Gambling Licensing Authority, according to the Racing Post newspaper.
Tabor, who previously operated bookmaker Arthur Prince before selling the chain to Coral, was a founding shareholder in BetVictor. Chandler, who has steered the company since its birth, will continue to serve as a consultant.
Michael Carlton will also step down as chief executive officer, but will act as a consultant during the transition period.
“I believe the BetVictor brand has enormous potential and is well placed to continue its expansion with further investment and strategic development,” Tabor said.
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.”