Exclusive: Fox Bet CEO Robin Chhabra steps down as Flutter reforms US brands

Robin Chhabra has stepped down as Fox Bet CEO amid Flutter Entertainment’s integration of The Stars Group’s (TSG) US brands, EGR has learned.

Under Flutter’s newly formed US division, FanDuel president Kip Levin has taken over as head of Fox Bet on a temporary basis, with Chhabra to oversee the transition as a consultant.

Fox Bet president and former Stars Group SVP of strategy Matt Primeaux has also departed after more than two years with the firm.

Primeaux took to Twitter to say: “After a remarkable 6.5 years with Victiv/The Stars Group/FOX Bet, this week marks my last with the company I helped co-found and the group that acquired us in 2015.

“I’ve been lucky to work alongside some of the brightest, most creative, and talented team members during that time,” he wrote.

Chhabra was appointed Fox Bet CEO in May last year as TSG signed the US market’s first significant media partnership with Fox Sports to establish the new brand.

Robin Chhabra was appointed Fox Bet CEO in May 2019

In April, Flutter said it would lump together Fox Bet, FanDuel and PokerStars’ US assets in a single business division, with all three earnings to be reported under the same umbrella.

Flutter’s acquisition of TSG was finalised in March, with longstanding TSG CEO Rafi Ashkenazi stepping down shortly after.

Paddy Power Betfair will also merge with TSG’s international division before the combined Flutter Entertainment business transitions to a four-division operating system, as Paddy Power and Sky Bet move alongside each other to form a new UK and Ireland division.

“Each of these organisational changes will be managed with the primary objective of maintaining momentum within each business as the group looks to achieve the potential revenue and cost benefits of integration,” said Flutter in a note to investors in April.

Flutter and TSG set a final date of 31 October 2020 for the formal completion of the $12.4bn merger.