The Chief Executive of Sky Betting and Gaming, Richard Flint commented on the upcoming business ventures of the company and said that the joint efforts of company’s executives were going to make Sky even more recognizable brand and further consolidate its positions on the UK gaming market.
The announcement came soon after the company was acquired by CVC Capital Partners.
Mere hours ago, the deal was finalized and 80% stake in Sky was sold. The value of Sky Betting and Gaming was estimated at £800 million.
Soon after the announcement for the deal completion, Mr. Flint was reached for a comment and said that the company will become even more popular among the UK customers and will move forward by expanding its business. For the time being, the company is ranked the fifth largest and most popular betting company on the United Kingdom gambling market.
Mr. Flint, who was appointed as a CEO, went on to say that the recently completed deal would enable the company to continue its expansion without losing its unique advantages. The relations with Sky Betting will also be kept stable.
Back in December 2014, representatives of Sky announced that the deal is to be signed. Before its completion, however, the company received £600 millions well as a vendor loan note.
As already mentioned, CVC Capital Partners became the major stakeholder of Sky Betting and Gaming but the former owners retained a 20% stake, which means that they will still be eligible for taking Board decisions together with the other members.
Flint added that he and his team will stay focused on the development of mobile products and ensuring their customers are provided with the latest technologies. Last but not least, they will keep their good relations with Sky Sports.
Meanwhile, it was announced that certain changes related to the Sky Poker TV are going to take place within the next few weeks. Actually, the changes are expected to be quite significant as the 24/7 channel will be closed and the online live stream will be substituted predominantly with pre-recorded materials.
Many people suspected that the complete “renovation” of Sky Poker TV hints about problematic relations with Sky but Mr. Flint hurried up to disapprove of that statement and bring the speculations to an end by defining the changes in the TV as an “isolated incident”.
