CMA clearance sees Stars Group revamp Sky Bet’s leadership structure

Toronto TSX-listed The Stars Group Inc has this afternoon confirmed that it has been granted approval by the UK Competitions & Markets Authority (CMA) to finalise its $4.7 billion acquisition of Sky Betting & Gaming (Sky Bet).

Securing its CMA clearance, the Stars Group governance will begin executing its integration plans, which sees the TSX enterprise announce a new leadership structure for its Sky Bet asset.

In its corporate update, the Stars Group reveals that Sky Bet CEO Richard Flint has been promoted to Executive Chairman of Sky Betting & Gaming (SBG).

Flint’s Chairmanship appointment, sees long-term Sky Bet CFO Ian Proctor become new SBG Chief Executive, supported by the appointment of Conor Grant as Chief Operations Officer (COO).

“I am looking forward to helping shape the next chapter of growth for SBG as part of The Stars Group,” said Mr. Flint.

“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.”

Both Flint and Proctor will report directly to Stars Group Chief Executive Rafi Ashkenazi, as the enlarged TSX enterprise seeks to become online gambling ‘s most valuable listed enterprise.

“I am delighted to announce SBG’s new senior management structure,” said Rafi Ashkenazi. “We believe these appointments position us well to deliver our strategy to become the world’s favourite iGaming destination”.