Star Sports has purchased BetVictor’s portfolio of 18 racecourse pitches for an undisclosed fee that will see the Brighton-based firm stand on the rails at 11 racecourses, including Ascot, Cheltenham, Goodwood Newmarket and Sandown Park.
Star Sport’s owner Ben Keith said: “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.
BetVictor CEO Andreas Meinrad said: “We are pleased to have reached an agreement with Star Sports for the sale of our rails pitches. Star Sports have the same passion and commitment to horseracing that we have at BetVictor and we wish Ben and his team all the very best going forward.
“We feel the time is right sell our pitches as we concentrate on the online/digital side of our business and have set ourselves challenging targets for the next three years. Horseracing remains a fundamental part of our business but we felt there was no longer a need for an on-course presence.”
The deal begins with immediate effect and Star Sports will stand at Royal Ascot next week.