Several changes at sports betting firm Sportingbet have been announced this week in a company statement. The departures of founder Mark Blanford and director Bob Holt have been met with surprise in British gambling media. However, Sportingbet's official statement attributes the decision to the company's ongoing plans to downsize its board.

"As the company continues to drive further efficiencies from its business we have agreed to reduce the size of the board," said Chief Executive Andrew McIver. The statement went on to say that Holt and Blanford will "pursue other business interests." The role of company chairman will be filled by Sean O'Connor, previously senior independent director, who will also take over Holt's position of chairman of the audit committee.

While the news may come as a surprise for Sportingbet fans, some industry analysts are viewing it as simply another nail in the coffin for online gambling firms. Last year's anti-gambling legislation signed into law by the U.S. government has continued to make itself felt in the industry and has caused the collapse of several European gambling firms. Both Leisure & Gaming PLc and Sportingbet were forced to sell off their U.S. gambling interests for a mere $1.

Shortly afterwards, Peter Dicks resigned as Sportingbet's non-executive chairman after being detained by government officials on September 6. Dicks was charged with computer based gambling under Louisiana state law and faced fines of $25,000 and up to five years imprisonment. However, New York authorities refused to comply with Louisiana's extradition order and charges against Dicks were dropped.

Back to February 2007 Online Gambling News
Back to latest Online Gambling News
Back to Online Gambling Archive