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NEWS IN BRIEF
Brady leaves bwin.party
Bwin.party’s commercial director for bingo Michael Brady has resigned from his role to pursue other interests. Brady, who is rumoured to be working on a project in the social gaming sector, stepped down after around two and a half years with Cashcade, initially rejoining the business as overseas marketing and business development manager, having begun his career at the company in 2000. He was then promoted to commercial director for bingo following founder Simon Collins’ move to egaming venture capital fund NewGame Capital.
LADS' EX TRADING DIRECTOR LAUNCHES APPEAL
Jon Thompson dismissed for unknown reasons
Ladbrokes’ former head of trading, dismissed from the operator on 6 June for unknown reasons, is understood to be in the process of appealing his case alongside a second senior member of his team. Jon Thompson, head of trading at the UK-based operator for 18 months, was dismissed at the beginning of June with Ladbrokes veteran Mark Fogarty, horse racing product manager, who was suspended shortly afterwards, both for unknown reasons. Fogarty had been with the company for almost 20 years and is understood to be set to launch an appeal against his sudden dismissal. British newspaper The Daily Mail reported Thompson’s dismissal was over concerns of how he was running the operator’s trading department and his close connections to some of its high roller accounts – but it is understood Thompson refutes these allegations and intends to clear his name.
A Ladbrokes spokesman said he was unable to comment other than the process was “ongoing” and would be concluded in the “coming weeks”. Thompson joined Ladbrokes in February 2011 after leaving his role as global head of trading for Bodog where he started as trading director for Bodog Europe in July 2007. At Ladbrokes he was responsible for t rading, risk management and in-play betting across the online and retail platforms. Thompson was brought to the company in an attempt to claw back market share in the egaming space with Ladbrokes struggling in recent years to keep pace with its rivals with both William Hill and Paddy Power generating signi?cant growth of more than 30% in online sportsbetting and mobile revenues. Thompson was in charge of a 200-strong team with around half of these employees focusing on in-play; however, Ladbrokes’ growth has only been around the 9% mark.
Redbet CEO leaves role after “completing mission”
Redbet chief executive Jorgen Andersson has stepped down from the role after two years, handing over the reins to acting chairman Claes Hallén while taking over as chairman. The move comes after the Swedish operator saw first-quarter revenues increase by 42% year-on-year thanks to a strong casino showing. Andersson said in a statement: “My mission to restructure the company is now completed and it is time for me to step down as CEO. I welcome Claes Hallén in the role as the new chief executive and I look forward to continuing my involvement in the company as a board member.”
LEVY STEPS DOWN FROM 888 BOARD
Former chief executive leaves with immediate effect
Former 888 chief executive Gigi Levy has stepped down from the operator’s board, where he served as a non-executive director, with immediate effect. After relinquishing his post as CEO in April 2011, he remained on the board to devote time to the search for his successor, a process which culminated in the internal appointment of Brian Mattingley to the role on a full-time basis earlier this year. Levy has focused on a number of investments in the last 13 months, including many in the social gaming space. Chief among these is Playtika, the Israeli developer behind successful Facebook
slots app Slotomania, which was sold to Caesars for an eventual nine-?gure sum last year. Levy told eGaming Review: “After six years on the board of 888, ?ve of which as CEO, I felt it is time for me to move on. The company is in great shape and very well positioned to take advantage of the opportunities ahead, and I want to be able to dedicate more time to my new hobbyjob of investing in startup companies and help them disrupt the various markets they work in. “888 is in very good hands with Brian and the management team and I am sure it will continue succeeding in the future.”
Cormac McCarthy new Paddys CFO
Jack Massey has been promoted to director of finance and company secretary of Paddy Power, in a move which will see the former Investment Technology Group employee resign from his roles as chief financial officer and executive director of the Irish operator. Massey will be replaced as CFO by current non-executive director Cormac McCarthy, who will also become an executive director.
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