BetVictor Sells Horse Racing Betting Pitches
The gambling operator BetVictor has announced that it has sold eighteen horse racing betting pitches to independent bookmaking firm Star Sports, with the transfer taking immediate effect.
This announcement from BetVictor, made at the start of the week, marks the end of a long standing presence the company has had at horse racing events in the United Kingdom. The eighteen pitches being sold, which cover eleven different racecourses, represent its entire on-course portfolio. No mention has been made of the financial terms of the deal.
Andreas Meinrad, CEO of BetVictor, said in a statement that the company still considered horse racing a fundamental part of its business, but that the time was right to sell its pitches as the focus moving forward would be primarily on the digital side of the business. The company operates an online gambling site which offers sports betting, casino, and poker.
Meinrad also endorsed the purchasers of the portfolio, saying “Star Sports have the same passion and commitment to horse racing that we have at BetVictor and we wish Ben and his team all the very best going forward.”
The acquisition by Star Sports, a growing independent betting firm, could be considered something of a coup. The Brighton based company currently has betting facilities in locations such as Lord’s Cricket Ground and The Oval, but they can now boast a presence at some of the most prestigious racecourses in the country. The purchase includes pitches at Ascot, Sandown Park, Cheltenham, Newmarket, and Goodwood.
The owner of Star Sports, Ben Keith, made the following statement.
“It’s a real honour to be taking over these prime pitches from a firm with such a strong heritage in the bookmaking industry and we are equally thrilled that they have chosen Star Sports as the ideal buyer. This acquisition marks a new chapter in the exciting Star Sports story and, from a personal point of view, I am completing a lifetime ambition to bet on some of the best pitches in the country, including Royal Ascot and Cheltenham.“
Star Sports is not as high profile as many of the large bookmakers in the UK, but they do have a sizable client base. They operate a more personalized service than the big firms, and class themselves as a “luxury” bookmaker. They were formed in 1999 as Star Racing, and increased their growth through a number of purchases of other independent bookmakers. They rebranded in 2009 to reflect the fact that they offered a wider range of services than just racing betting.
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