London bookmaker and investor in international real estate Michael Tabor, has been a 45% founding shareholder of the BetVictor brand of online gambling. The BetVictor brand has operated under a Gibralter gaming licence since 1996, under the Victor Chandler International corporate umbrella.
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Now his partner and BetVictor co-founder Victor Chandler, the Chairman of Victor Chandler International, has sold him his 55% stake in the gambling company as well, which will now give Tabor full ownership.
Victor Chandler will also be giving up the Chairmanship role of the company, and the company’s long-serving CEO, Michael Carlton will also step down.
Tabor completed the transition to full ownership by way of a simultaneous corporate restructuring of the various holding companies involved. Financial terms of the purchase were not disclosed.
Victor Chandler will continue to serve as a consultant at BetVictor in order to ensure a smooth transition to the new controlling ownership.
Chandler commented he had co-owned and led BetVictor for over 40 years, and had come to the conclusion that the company would now be best served with fresh ownership, adding, “I have known Mr. Tabor for many years and I am confident that the company will continue to thrive under his ownership.”
Victor Chandler International was founded originally in 1946 by Chandler’s grandfather, and he inherited the business when his own father died in 1974.
Michael Tabor himself has many years experience in the UK gambling market, and earlier sold his own chain of betting shops to Coral in the mid-90s.
Now a major private investor, Tabor is part owner of the Sandy Lane hotel in Barbados, as well as owning the chain of British pubs, Mitchells & Butle, and Global Radio the largest radio group in the United Kingdom, which is run by his son Ashley. He has also invested in a stable of extremely successful thoroughbred racehorses.
Commenting on the acquisition Tabor said the believed the BetVictor brand has enormous potential and can continue to expand with more investment and further development.
The Gibraltar Gambling Licensing Authority has already approved of the acquisition deal in principle.