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Elmer Funke Kupper Resigns
Monday, March 21, 2016 : FORMER TABCORP BOSS RESIGNS TO FIGHT CAMBODIAN ONLINE CORRUPTION ALLEGATIONS (Update)
After four-and-a-half years as m.d. of the Australian Securities Exchange, Elmer Funke Kupper steps down.
The announcement last week that Australian federal police are investigating allegations of a Tabcorp bribery attempt to secure Cambodian online gambling approval has been followed by the news that former Tabcorp chief executive and current m.d. of the Australian Securities Exchange, Elmer Funke Kupper, has resigned.
Funke Kupper wanted to “direct his full focus to the investigations which may be made,” ASX chairman Rick Holliday-Smith said in a public statement Monday.
Holliday-Smith will act as executive chairman while ASX looks for Funke Kupper’s replacement. Funke Kupper has been with ASX for the past four-and-a-half years as managing director.
He headed Tabcorp between 2007 and 2011 prior to joining ASX, and there have been allegations that under his stewardship the Australian betting company in 2010 made a questionable payment of A$200,000 as it sought an online gambling licence in Cambodia.
Analysts generally felt that Funke Kupper had done the right thing; one commented:
“Corporate governance is a big thing and people need to have faith and trust in the market. It makes sense for the ASX to let him go if that’s what he needed to do.”
Funke Kupper’s departure at ASX comes as consolidation among global exchanges accelerates. Last week, Deutsche Boerse AG agreed to acquire London Stock Exchange Group plc, a deal that may kick off a bidding war. The merge could create the world’s biggest exchange operator by revenue and second-largest by market value.
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgaming’s customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sunday’s 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at –115.
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