ISABELLE ANDRES INTERVIEW
fter a frustrating few years for Betclic Everest Group, signs of a turnaround in fortunes have started to emerge, ?rst under Ignacio Martos and now under the leadership of new CEO Isabelle Andres. Appointed in December, Andres is steering the operator back into the black and leaving memories of a €91m full-year loss in 2011 far behind. In September 2011 Martos was appointed as chief executive, replacing co-founder Nicolas Beraud. The Spaniard led a large-scale restructure as well as a shift in overall strategy, which saw a 34.7% yearon-year decline in losses during 2012. But 2012 was also notable for vastly improved performance from its sportsbook, and so it came as a surprise when Martos left the business in December after little more than a year in the role. The responsibility to continue the turnaround now falls to Andres. She helped coordinate last year’s strategy as deputy CEO, and fully expects to lead Betclic Everest into the most successful period in its short history. “Last year, this company de?nitely changed a lot,” she says. “We are now quite a successful company and now my aim is to make it even more successful.” The heavy 2011 losses were attributed to an accelerated depreciation of assets, requiring Betclic Everest’s co-owners Société des Bains de Mer (SBM) and Lov Group to drive down the operator’s value. This resulted in a €75m loss for the assets, as well as a €16m operational loss. Additionally, an unspeci?ed amount of the goodwill value for some of the company’s brands was also written off. One of the assets affected was Everest Gaming, which Betclic bought in April 2010. The acquisition was intended to be the operator’s brand for a newly-regulated American market. However, with regulation in the States progressing far slower than was initially expected four years ago, the business has suffered badly. Just one year after the acquisition, Everest Gaming posted losses of US$46m, with 40% of these carried by Betclic.
A
“We adapted to new market conditions, as well as regulation, and we achieved a major turnaround in the company and its profitability”
Andres on how the company has changed over the past year
“Last year, this company definitely changed a lot. Now my aim is to make us even more successful”
Andres on Betlic Everest's plans for success
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