Sportingbet COO to Go - 05-12-08

May 12 - Sportingbet, the popular online gambling company is going through major restructuring lately, including the dismissal of several members of its staff, and its Chief Operating Officer, David Hobday, among them.

It was decided that there was no place for Hobday at Sportingbet after the company successfully moved its operations from London in the UK to Dublin and Guernsey. Hobday's responsibilities have been equally divided among Sportingbet's remaining executives.

Andrew McIgver, the Chief Executive of Sportingbet, reporting on the company's third quarter performance ending April 30th, 2008 said: "Quarter Three was another strong performance for the Group and once again shows the tremendous headway the business has made since our complete withdrawal from the US in 2006 and the subsequent year of intense restructuring and refocus."

Sportingbet has hinted that it expects to report operating profits of 7 million GBP on its third quarter, bringing its nine month total profit to an impressive 18 million GBP. Compared to last year's figures, this indicates growth of 133%. Sportingbet shares are currently trading in London at around 46 pence.

McIgver continued: "The current consideration of staff requirements within the Group's Head Office function marks the last part of our restructuring proposals. Once this exercise and consultation is complete, we envisage having an appropriately structured organization to take the business forward. The Board and I would like to take this opportunity to thank Dave for his hard work and dedication that have helped us get to where we are today and wish him well for the future. Current trading is good and the Board remains confident of meeting expectations for the full year and beyond."

Submit This Article To Your Social Network
Furl	Simpy	Y! MyWeb	OnlyWire
Del.icio.us	Digg	Google	Spurl
StumbleUpon	Redit	Technocrati