Michael Tabor, who already had a 45% stake in BetVictor, increased his share to a full 100% after a deal to acquire the company received the blessing of the Gibraltar Gambling Licensing Authority.
With wealth estimated to be in the ballpark of £600 million, Tabor takes over the reins of BetVictor while chairman Victor Chandler and CEO Michael Carlton step down and will continue only in the capacity of consultants. Though he was at the helm for over four decades, Chandler expressed no regrets at the restructuring and his limited role from this point forward.
Having owned and led this business for more than 40 years, I looked towards the future and I decided that the company would be best served under new ownership and leadership,” Chandler said. “I have known Mr. Tabor for many years and I am confident that the company will continue to thrive under his ownership.”
Tabor has a number of investments within his portfolio and has been heavily involved in the horse racing industry. He is excited about his latest purchase and admitted to having plans in mind for future growth.
I believe the BetVictor brand has enormous potential and is well placed to continue its expansion with further investment and strategic development,” Tabor told eGR.
BetVictor was known as Victor Chandler previously and also for a time had been rebranded to VC Bet. The bookmaker has been around since 1946 when Chandler’s father William founded the company.