Update: Yu Leaves Betfair


Speculations confirmed by the company

Over the weekend the industry was abuzz with speculations that another executive may be leaving troubled online gambling company Betfair, and the rumors proved to be true as on June 27 the company confirmed that its CEO David Yu does not intend to renew his current contract which expires in October 2012.

Reportedly, Yu has informed the company’s Board that he believes it is the right time for the company to start looking for his successor, until which time he will remain fully committed to the company and to delivering the plans for future growth.

Yu was the one to take the company public in October 2010, after which its shares experienced a bitter drop - 52 percent on revenues of around GBP340 million.

According to Yu himself, "I have discussed my plans with the board and as a result, we are beginning the search for my successor. We are announcing this now so we can actively and transparently begin the process. I will remain committed to delivering the best for our people and our shareholders and will give the board all possible support during the succession process."

General Gambling News Gambling Law & Society News

Login to post a comment:


 
 

Click Here to register a new account

What's going on right now!

5mins ago someone from United States played Iron Man

Casino Community

Share this page on:
Follow LCB on:
Follow LCB

Casino Of The Month

Casino of the Month

In the last 24h

Totals

  • New Members
    19
  • Members Online
    386
  • Guests
    1,584
Highest Community Rated Online Casinos
SlotsMillion
  (115 Ratings)
32 Red Casino
  (376 Ratings)
Guts Casino
  (211 Ratings)
Club USA Casino
  (308 Ratings)
Mr Green Casino
  (325 Ratings)
Buzzluck Casino
  (189 Ratings)
Lucky Red Casino
  (242 Ratings)
Videoslots.com
  (184 Ratings)
Nexxedge
  (60 Ratings)
Bet365 Games
  (198 Ratings)
NextCasino
  (182 Ratings)
CasinoLuck
  (251 Ratings)
Betsson Casino
  (247 Ratings)
Unibet Casino
  (170 Ratings)
Betsafe Casino
  (222 Ratings)
Redbet Casino
  (180 Ratings)
ComeOn Casino
  (290 Ratings)
Spin Palace Casino
  (134 Ratings)
Casino Extreme
  (200 Ratings)
Raging Bull
  (84 Ratings)
Vera John Casino
  (205 Ratings)
Thrills Casino
  (166 Ratings)
Slotland
  (359 Ratings)
Intertops Red Casino
  (144 Ratings)
BETAT Casino
  (227 Ratings)
Casino Adrenaline
  (44 Ratings)
Ladbrokes Casino
  (170 Ratings)
Slotty Vegas
  (135 Ratings)
Casumo
  (172 Ratings)
Hello Casino
  (106 Ratings)


Follow LCB on Facebook Follow LCB on Twitter Follow LCB on Pinterest Follow LCB on Google plus