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.