Tag Archives: cvc capital partners

Richard Flint confirms Sky Bet departure

The Stars Group Inc has confirmed that Richard Flint has chosen to end his tenure as Executive Chairman of Sky Betting & Gaming (Sky Bet). Flint departs Sky Bet following 17-years with the company, serving from 2001-to-2018 in the capacities of Managing Director and Chief Executive. Regarded as one of global betting’s leading figureheads, Flint is credited for turning Sky …

Read More »

CVC collects another bookmaker with €1bn Sisal acquisition

Luxembourg-based private equity  firm CVC Capital Partners has extended its reach into the betting industry once again with the news that it has agreed to acquire a 100% equity stake in Italian gaming and payments operator Sisal Group S.p.A. The acquisition will see CVC assume Sisal’s €960 million corporate debt, with the PE firm expected to make an estimated €1 billion …

Read More »

1000th employee joins Sky Betting & Gaming

Sky Betting & Gaming have announced that they have reached a milestone of 1,000 employees by hiring Software Engineer Nándor Szentpéteri, who joins the company’s Gaming Tribe. The announcement comes after record expansion across the last 5 months. The growth follows a 36% rise in revenue to £247m posted in the 12-months to June 2015, with further positive results anticipated …

Read More »

CVC Capital to fund Sky Bet acquisition with £390m in loans

Equity and investment firm CVC Capital Partners, are set to take a £390 million loan in order to finalise its £800 acquisition of Sky Bet enterprises from BskyB. Under the terms of purchase which were agreed on 4 December 2014, CVC Capital will pay BskyB £600 million in cash and a further £120 million in contingent payments. BskyB will retain …

Read More »

CVC takes control of £800m Sky Bet

CVC Capital Partners is to spend a potential £720m to buy a controlling stake in online bookmaker Sky Bet. Under the agreement, Sky will receive £600m on completion of the deal, and further deferred and contingent payments of up to £120m, while Sky will retain an equity stake of 20% in Sky Bet, with which it has entered a long-term …

Read More »