CMA clears Stars Group’s Sky acquisition

The UK watchdog has given the company clearance to proceed with the acquisition of Sky Betting & Gaming.

UK.- The Stars Group Inc has announced that the UK Competition & Markets Authority (CMA) has cleared its acquisition of Sky Betting & Gaming. The Stars Group completed the acquisition on July 10, 2018, and can now begin executing its integration plans.

Following CMA clearance and effective immediately, The Stars Group announced this week certain new management appointments to senior roles within the SBG business to execute its integration plans, including the delivery of expected cost synergies.

Richard Flint is appointed as Executive Chairman of SBG, having previously served as the Chief Executive Officer of SBG, Ian Proctor is appointed as Chief Executive Officer of SBG, having previously served as Chief Financial Officer of SBG, and Conor Grant is appointed as Chief Operating Officer of SBG, having previously served as Director of SBG’s gaming brands, Sky Vegas, Sky Casino, Sky Bingo, and Sky Poker. Messrs. Flint and Proctor will report to The Stars Group’s Chief Executive Officer, Rafi Ashkenazi, and Mr Grant will report to Mr Proctor.

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

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