Victor Chandler: I’m back and hungry for acquisitions
Chandler tells EGR Intel he’s ready to return to the industry following the end of a three-year non-compete agreement with BetVictor
Former BetVictor co-owner and chairman Victor Chandler has told EGR Intel he is ready to make his return to the online gambling industry following a three-year hiatus.
Chandler, who was the face of the BetVictor – previously branded Victor Chandler, sold his stake in the company to co-owner Michael Tabor in May 2014, and in doing so signed a three-year non-compete agreement.
However, that contract expired earlier this week and, speaking exclusively to EGR Intel this morning, Chandler said he was keen to return to an industry he admitted he had “missed”.
“I’ve missed not being involved [in the gambling industry] and over the last few months I’ve been busy talking to people as we look at investments and acquisitions,” he said.
Chandler revealed his return would be made in tandem with business partner and former BetVictor CEO Michael Carlton, who left the operator along with Chandler in May 2014.
“I’ve worked with Michael Carlton for more than 20 years and now the non-compete contract has expired we are ready to invest,” Chandler said.
The first venture looks likely to be in the form of a new company called Frontier Enterprises, which is preparing to launch a new mobile sports betting and gaming brand called Bet Lion in East Africa in August.
“The growth of the market is enormous and the penetration of smartphones and micro-payments is excellent – they are leading the world in micro-payments,” Chandler said.
Frontier Enterprises is led by Oliver Bates, who Chandler said “knows the whole territory very well” with Chandler and Carlton to become part-owners and advisors upon making their investment next month.
Bet Lion is set to be powered by FSB Technology, a sportsbook and platform Chandler described as “terrific” and a company with experience in the African market.
The businessman also said he was currently reviewing a separate acquisition in the gaming space while he was in talks with a company in Taiwan regarding the licensing of his name for a new betting brand.
“I’m due to go out to Taiwan in the next few weeks,” he said. “The company wants to buy my image rights and use my name as an endorsement.”
On his departure from BetVictor, Chandler said it was time for a change and that negotiations with Tabor had been “taking place behind closed doors for some time”.