Online Casino Brings in the Money but Changes Leadership
Sporting Bet online casino has announced great quarterly results but it has also been learnt that a change in leadership is expected at the online casino. Some leadership changes are going to be occurring in the next few months at Sporting Bet online casino. The online casino announced that in October this year finance chief Andrew McIver would become Group Chief Executive whilst current top man Nigel Payne will move to an executive director slot. Payne will lead the online casino’s bid for lobbying for industry regulation in the US and Europe, and assisting Andrew McIver and the Board in researching and executing business development opportunities in the online casino industry.
The shift in management and the development of team work has all the partners happy, it is reported. McIver stated that the is thrilled at the opportunity to head the online casino group and is looking forward to working with Payne is developing the online casino group strategy for expansion and lobbying strategies. McIver stated that both targeted acquisitions and organic growth has proven to be a successful formula and that he intends to continue this policy as the head of the online casino group.
The online casino group’s quarterly report showed some very positive figures with the gross margin up 58 percent to GBP 84.4 million, while the operating profit rose 43 percent to GBP 28.8 percent. Profit before tax increased 55 percent to GBP 21.2 million and the cash generation from online casino operating activities was GBP 29.5 million.