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BetVictor Acquired by Horseracing Tycoon Michael Tabor

BetVictor Acquired by Horseracing Tycoon Michael Tabor

Horseracing tycoon Michael Tabor has bought the Gibraltar-based bookmaker BetVictor. Full details of the deal have not been released but it is known that current chairman Victor Chandler, and CEO Michael Carlton, will both step down from their jobs. Chandler is to remain with the company as a consultant while Carlton is likely to do the same during the transition period.

BetVictor Acquired by Horseracing Tycoon Michael Tabor

The British horseracing tycoon, Michael Tabor, has bought the bookmakers BetVictor for an undisclosed sum.

Chandler said that he thinks the company “would be best served under new ownership and leadership”.

He has been in charge of BetVictor now for forty years after taking over from his father who founded the company in 1946.

Tabor has already received permission from Gibraltar gaming regulators to purchase the company. He was one of BetVictor’s founding shareholders and said that the brand has “enormous potential and is well placed to continue its expansion with further investment and strategic development.”

As well as operating across Europe, BetVictor also operates in Asia under the VC+ brand.
While full details of the deal have not been disclosed Tabor is certainly able to pay vast sums. He was recently ranked #170 on the Sunday Times rich list with a net worth of £600 million.

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Raised close to London’s financial district, Ben has always found the world of business and money fascinating. While completing a degree in business studies Ben started writing for his university newspaper and hasn’t stopped since. Over the last decade Ben has gathered a wealth of experience writing about business and the financial markets and he is pleased to be able to share it with you here.

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