The Stars Group acquisition of Sky Betting & Gaming cleared by UK CMA; immediate restructuring and management changes.
The Stars Group Inc. today announced that the UK Competition & Markets Authority (CMA) has cleared its acquisition of Sky Betting & Gaming (SBG).
Following the green light on the $4.7bn takeover, The Stars Group has announced new management appointments to senior positions within the SBG business to expedite integration plans.
Richard Flint has been appointed as Executive Chairman of SBG, following his long service as CEO – a role now filled by Ian Proctor, the former CFO. Meanwhile Conor Grant, who previously worked as Director of Sky Vegas, Sky Casino, Sky Bingo and Sky Poker, takes on the position of COO.
Flint and Proctor will report to The Stars Group Chief Executive Officer Rafi Ashkenazi, while Grant will report to Proctor.
Commenting on the changes, Mr 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, who has worked for SBG for almost sixteen years, and been the CEO for a decade, 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.”
