TSG appoints ex-Sky Bet and Grand Parade execs to FOX Bet senior management team
US brand to be led by Stars corporate development chief Robin Chhabra, former Sky Bet MD Ted Moss and ex-Grand Parade owner Andy Clerkson
The Stars Group’s chief corporate development officer Robin Chhabra will take on the newly established role of CEO for FOX Bet, its latest media partnership with FOX Sports.
Chhabra joined TSG from William Hill in 2017 to drive its M&A efforts.
Former Sky Bet MD Ted Moss and ex-Grand Parade owner Andy Clerkson will also form part of FOX Bet’s senior management team, the operator announced this morning during an analyst call.
TSG CEO Rafi Ashkenazi said he expected the business to generate a net revenue of $9bn by 2025 thanks to FOX Sports’ 80% brand awareness in the market.
It also confirmed it aims to replicate Sky Bet’s success in the UK and its high customer loyalty percentage of 60% with the new FOX Bet venture.
Chhabra said FOX Sports customers fit the same profile as Sky Bet users.
In time, the operator will seek to cross-sell its new US brand with PokerStars and its CasinoStars brand. BetStars will not be operational in the US.
The FOX Sports deal has the potential to grow into a 50/50 joint venture, with FOX able to acquire a passive minority interest of up to 30% in the business, as long as it is granted the correct licensing.
Under the current agreement FOX has just under 5% of the business and TSG is required to pay brand and affiliate fees to the media giant.