Gambling.co.uk: Gambling News Archive

Sportingbet Downsizes After Move

Gambling firm announces resignation of Chief Operating Officer amid transfer of operations to Guernsey and Ireland.

Monday 19th May 2008

Online gambling operator Sportingbet has announced a number of redundancies at its London headquarters following its successful transfer of operations to Guernsey and Dublin.

As part of the restructuring, the company announced that there is no longer a need for a Chief Operating Officer and has accepted the resignation of David Hobday with his responsibilities transferred to other senior executives.

“Once this exercise and consultation is complete, we envisage having an appropriately structured organisation to take the business forward,” said Andrew McIver, Chief Executive Officer for Sportingbet.

In addition, the firm stated that it plans to report operating profits of at least $13.6 million next month for the third quarter ending in April, a potential increase of 133 percent on last year’s returns. This could see the company report a nine-month total operating profit of up to $36.5 million.

'Quarter three was another strong performance for the group and, once again, shows the tremendous headway the business has made since our complete withdrawal from the US in October of 2006 and the subsequent year of intensive restructuring and refocus,” said McIver.

“The current consideration of staffing requirements within the group’s head office function marks the last part of our restructuring proposals. Once this exercise and consultation is complete, we envisage having an appropriately structured organisation to take the business forward.

“The board and I would like to take this opportunity to thank Dave for his hard work and dedication that have helped us get to where we are today and wish him well for the future.”



 


Source: OnlineCasinoNews