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SPORTINGBET DOWNSIZING INCLUDES SENIOR EXEC
Comments made by the CEO of Sportingbet.com, Andy McIver, to the publication eGaming Review this week reveal that the company and its employees have faced a tough struggle following its withdrawal from the United States market in the wake of the UIGEA.
Despite a trading update anticipating rising operating profits for the first nine months to date of GBP 18.7 million (2007: GBP 6.7 million) the company has had to go through a painful downsizing, with possible redundancies at the head office following a move to Guernsey and Dublin of up to a third of the staff. The final decision is subject to a consultation process.
Among those departing will be Chief Operating Officer David Hobday, who McIver praised, telling eGaming Review: “We brought David Hobday in as the business had got so big. The US was doing very well, and sadly six months later UIGEA happened. At that point we did a lot of downsizing, waited until that bedded in and then re-assessed the situation. It is by no means Dave’s fault.
“It is sad for the individuals concerned, and it does seem slightly peverse that the company has been performing so well.” McIver added that the board thanked Hobday for his hard work and dedication.
Commenting on the improved business performance, McIver said it reflected the long hard slog the company had faced since the U.S. withdrawal in late 2006, and is the result of a lot of hard work.
"If you lose the amount of business we lost it’s amazing to still be here," he added. "In terms of forecasts for the end of the year, the market thinks we will do GBP28 million, and we are happy with that.”
3 Top Bitcoin Poker Sites -
Bitcoin, in particular, is a cryptocurrency that you can use on various online poker sites and it allows a faster and cheaper way to get money into and out of the online poker site.
Kentucky Derby Odds: Justify still Favorite -
With all the races on the Road to the Kentucky Derby complete, Justify is still on top of the odds list at 4/1. But he’s got company: Mendelssohn (9/2), Audible (11/2) and Magnum Moon (8/1) are all very much in contention for the big race on May 5.
888Poker Takes Over the States -
With more and more states moving toward online casino integration, an increasing number of international players are moving in on American territory. Who will take the crown of the most popular online poker venue in the United States?
Top gambling ICOs to watch this year -
The gambling ICOs that are being launched in 2018 are of better quality. Unlike the last half of 2017 when ICOs were numerous, the first few months of 2018 have seen a big drop in number.
MPN Poker Tour Bratislava | Day 2 -
It was a hard fight around the bubble, culminating in the elimination of Georgios Drakakis in 46th place. He received a surprise consolation entry into the next MPNPT stop in Sunny Beach, Bulgaria (5-8 July), which softened the blow of missing out on a €900 min-cash.
MPN Poker Tour Bratislava Day 1B -
Dorey Captures Chip Lead After MPNPT Bratislava Day 1b Triples 1a Field Size. The second flight of the €550 MPN Poker Tour Bratislava Main Event is in the bag, and so are the chips of 97 players who will be returning along with the 26 Day 1a survivors to fight to the money and beyond today
MPN Poker Tour Bratislava Day 1A -
The MPN Poker Tour has arrived in Bratislava for the very first time, bringing with it the Tour’s friendly mix of local and globe-trotting poker enthusiasts, pros and qualifiers to the beautiful Slovakian capital.
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