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Racecourse owner Michael Tabor takes over Betvictor

Saturday May 24,2014 : VETERAN BOOKMAKER TO STEP DOWN AT BETVICTOR
 
Racecourse owner Michael Tabor takes over online casino and sportsbook operator.
 
Industry veteran Victor Chandler has announced that he is to step down as chairman of BetVictor following the news that the online casino and sportsbook company has been taken over by racecourse owner and major investor Michael Tabor.
 
Chandler’s experience will not be lost, however – he has agreed to act as a consultant for the Gibraltar-based company.
 
Speaking about the deal, Chandler said: “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.”
 
For Tabor the wheel has come full circle; he was one of the founding investors in BetVictor, and already owned 45 percent of the business. He is highly experienced in the betting industry, having at one time headed a successful retail bookmaking company that he subsequently sold to the Coral group.
 
“I believe the BetVictor brand has enormous potential and is well placed to continue its expansion with further investment and strategic development,” Tabor said.
 
The acquisition deal has been approved by the Gibraltar regulator, according to media reports Friday.
 
BetVictor’s chief executive officer, Michael Carlton, has also confirmed that he will leave the company, although he will continue to serve in a consulting capacity during the transition to the new owners.

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Gambling News :

Interwetten 2016 Earnings Results - Privately-owned online sports betting operator Interwetten delivered robust full year results for the 2016 fiscal period, in which the company has almost achieved doubling its revenues over the past four years, success it attributes to its in-house developed platform

EU Online Gambling Tax Harmoney Dead - Tax expert says European Court of Justice Attorney General's opinion on UK-Gibraltar litigation signals that EU courts are happy for individual member states to impose their own laws on online gambling.

Jack Lam Facing Big Fines in the Philippines - It's going to be costly for Macau online gambling and junket tycoon Jack Lam to return to the Philippines following his rather hurried departure last year with allegations of economic sabotage, bribery and tax evasion swirling around him.

Walter Merricks Term As Gambing Commissioner Extended - The UK Government has extended Walter Merricks’ term as Commissioner of the Gambling Commission for a further year, ending December 31, 2017.

Loot’enKhamun Pays $3.8 Million Jackpot - A London-based construction worker’s year got off to a great start when he hit the Loot’enKhamun jackpot at bwin casino.

PlaySugarHouse To Carry Konami Content - Content provider Konami will provide its Gypsy Fire and Fortune Stacks slot games to Rush Street Interactive-operated PlaySugarHouse.com on an exclusive basis in the New Jersey real-money online and mobile wagering market.

ITF TERMINATES BETWAY SPONSORSHIP DEAL - The International Tennis Federation (ITF) has reportedly terminated Betway’s three-year sponsorship partnership as an extension to their anti-match fixing and sports integrity policy.

GSA To Launch European division - The expansion enables the GSA to better focus on the regional needs of its members outside of North America and underscores its recognition and commitment to growing European membership.

Paddy Power Trading Update - Company prevails despite adverse sports and US election results; Trump success cost the group GBP 5 million, whilst punter successes took another GBP 40 million in Q4-2016.

Tabcorp SunBets project - The details were revealed this week in an IT News article quoting Tabcorp's chief information officer, Kim Wenn, who described the SunBets project as Tabcorp's biggest global venture yet.

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