TORONTO, Oct. 11, 2018 /PRNewswire/ - The Stars Group Inc.
(NASDAQ: TSG)(TSX: TSGI) today announced that the UK Competition
& Markets Authority ("CMA") has cleared its acquisition of Sky
Betting & Gaming ("SBG") following its Phase 1 review under the
Enterprise Act 2002. As previously announced, The Stars Group
completed the acquisition on July 10,
2018, and can now begin executing on its integration
plans.
Following CMA clearance and effective immediately, The Stars
Group today announced 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 Mr. Ashkenazi. "We believe these appointments
position us well to deliver our strategy to become the world's
favorite iGaming destination".
"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."
Mr. Flint has been with SBG for nearly 16 years and has served
as its Chief Executive Officer for the last ten. Mr. Flint has over
20 years' experience in online businesses, starting as a Channel
Director at FT.com and then as the Product Director of online
start-up flutter.com, which merged with Betfair in 2001. Prior to
that, he worked as a consultant at McKinsey & Company from 1997
to 1999.
Mr. Proctor was appointed as SBG's Chief Financial Officer in
2008. From 1993 until he joined SBG, Mr. Proctor held a series of
senior finance roles at Sky plc.
Mr. Grant joined SBG in 2010 where he previously served as the
Head of Sportsbook Products and Director of Products, then as
Director of SBG's gaming brands since 2014. Mr. Grant has nearly 20
years' experience in the gaming sector, having previously worked
for Paddy Power, Blue Square and
Boylesport.
The Stars Group also today announced two senior appointments,
including Andy Burton as Senior Vice
President, Global Sports Platform, and Vaughan Lewis as Group Director of Investor
Relations and Corporate Communications. Mr. Burton previously
served as the Chief Technology Officer of SBG and will lead the
development of the international sports betting platform for The
Stars Group, combining the capabilities of Sky Bet and BetStars.
Mr. Lewis previously served as the Director of Corporate
Development for SBG.
About The Stars Group
The Stars Group is a provider of technology-based product
offerings in the global gaming and interactive entertainment
industries. Its brands have millions of registered customers
globally and collectively are leaders in online and mobile betting,
poker, casino and other gaming-related offerings. The Stars Group
owns or licenses gaming and related consumer businesses and brands,
including PokerStars, PokerStars Casino, BetStars, Full Tilt,
BetEasy, Sky Bet, Sky Vegas,
Sky Casino, Sky Bingo, and Sky
Poker, as well as live poker tour and event brands, including the
PokerStars Players No Limit Hold'em Championship, European Poker
Tour, PokerStars Caribbean Adventure, Latin American Poker Tour,
Asia Pacific Poker Tour, PokerStars Festival and PokerStars
MEGASTACK. The Stars Group is one of the world's most licensed
online gaming operators with its subsidiaries collectively holding
licenses or approvals in 19 jurisdictions throughout the world,
including in Europe, Australia, and the Americas. The Stars Group's
vision is to become the world's favorite iGaming destination and
its mission is to provide its customers with winning moments.
Cautionary Note Regarding Forward Looking Statements and
Other Information
This news release may contain forward-looking statements and
information within the meaning of applicable securities laws.
Forward-looking statements can, but may not always, be identified
by the use of words such as "anticipate", "plan", "continue",
"estimate", "expect", "may", "will", "intend", "could", "might",
"would", "should", "believe", and similar references to future
periods or the negatives of these words and expressions. These
statements are based on management's current expectations and are
subject to a number of risks, uncertainties, and assumptions. There
can be no assurance that actual results will not differ materially
from those expressed or implied in forward-looking statements.
Undue reliance should not be placed on forward-looking statements.
Please refer to The Stars Group's most recent annual information
form and annual and interim financial statements and management's
discussion and analysis for more information about the factors,
assumptions and risks that may apply to The Star's Group's
forward-looking statements. Each forward-looking statement speaks
only as of the date hereof, and The Stars Group undertakes no
obligation to correct or update any forward-looking statement,
whether as a result of new information, future events or otherwise,
except as required by applicable law.
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SOURCE The Stars Group Inc.