Sky has completed the sale of an 80 per cent stake in its online betting and gaming business, Sky Bet, to CVC Capital Partners in a deal worth £800m.

Sky Bet

Following receipt of all required regulatory clearances, Sky has received £600m in cash and a vendor loan note for further payment, contingent on CVC achieving a certain return on investment.

Sky retains an equity stake of 20 per cent in Sky Bet and ongoing board representation.