Sky Bet linchpin Richard Flint to part ways with betting giant

Richard Flint, who has been instrumental in turning Sky Betting & Gaming into one of the leading operators in the gambling industry, is to leave the company at the end of June.

Flint, 47, has been with Sky Bet since 2001, spending more than ten years leading the business.

In October last year he became executive chairman when Sky Bet's acquisition by Canadian gaming company The Stars Group was cleared by the UK Competition & Markets Authority, with Ian Proctor succeeding him as chief executive.

Flint told the Racing Post: "Despite some of the challenges I have loved my time in the industry and I'm not averse to keeping connected in some way in the future.

"There are so many great things about the entrepreneurial side of the business and the technology side – being at the cutting edge of a growth story has been very exciting.

"The whole experience with Sky Bet has been fantastic. I've worked with a great group of people at every level, senior to the junior.

"In terms of what comes next it will probably be working with smaller companies in different sectors, including a dog food company I am working with."

The news was revealed on an analysts' call following the release of The Stars Group's financial results for the first quarter of the year.

Rafi Ashkenazi: Stars Group chief executive thanked Flint for his work

Stars Group chief executive Rafi Ashkenazi said that with Sky Bet's integration into the company having progressed well, Flint had "decided to take this opportunity to move on to pursue other opportunities".

He went on: "I'd like to thank him for his great work and for the assistance with the transition of the business."

SBG introduced some aggressive promotions for the Cheltenham Festival in March which, along with punter-friendly football results, hit their overall revenues for the quarter.

Betting net win margin was a record low of five per cent compared to an average of around nine per cent.

Nevertheless, Ashkenazi said the quarter was "excellent" from an operational perspective with an acceleration in growth rates for active users, betting stakes and gaming revenue.

He said the Cheltenham Festival had been an opportunity to acquire "high-value, high-frequency bettors" and it had been a success for the company, with active customers up by more than a third and stakes up by more than 50 per cent over the meeting, while their sign-up offer meant they signed up around a quarter of their normal annual customer acquisition during the four days.

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