Gibraltar-headquartered gambling operator BetVictor Ltd. announced that it had sold its 18 racecourse betting points in the UK to bookmaker Star Sports. Thus, the Brighton-based based gaming company would be able to stand on the rails of 11 different UK racecourses. The price for the purchase has not been revealed.
Currently, Star Sports operates a number of betting facilities, with the ones at Lord’s Cricket Ground and The Oval sports ground in London being among those. With the acquisition deal being effective immediately, the company is to add betting points at Goodwood Newmarket, Ascot, Sandown Park, and Cheltenham venues. In fact, Star Sports is expected to be seen at Royal Ascot as of next week.
Ben Keith, owner of Star Sports, said that it is a real honor for them to be given the opportunity to take over the pitches from a company that has a long experience in the industry and that they are particularly happy with the fact that BetVictor officials had chosen his company as the perfect buyer.
Mr. Keith further commented that with their new acquisition, Star Sports is entering a new chapter in its development. From his personal point of view, the official said that he has always dreamed of being able to bet on the country’s best pitches, Cheltenham and Royal Ascot included.
Andreas Meinrad, Chief Executive Officer of BetVictor, noted that they are pleased with their agreement with Star Sports, as both companies share “the same passion and commitment” to horseracing. The official also wished good luck to Mr. Keith and his team in their new venture.
BetVictor’s CEO further pointed out that they believe this was the right time to sell the pitches, as they would like to focus their attention on their online/digital business. According to the executive, BetVictor has set a number of challenging tasks for the next several years.
Mr. Meinrad said that horseracing will remain an essential part of the gambling company’s operations. Yet, it seems that on-course presence is no longer such an important factor.
Mr. Meinrad joined BetVictor in February 2015. Last week, the official announced that he had hired recruitment specialists Odgers Berndtson to find the best possible appointees for the roles of Chief Financial Officer, Chief Commercial Officer, as well as six other executive posts.
Mr. Meinrad has also been backed by BetVictor’s owner Michael Tabor on his proposed strategy for the operator to focus its attention on its football betting business.
