iGaming Giant Betfair Builds New FuturePublished June 29, 2011 by OCR Editor
Online betting exchange is on the lookout for a new chief executive.
At a time of year when many of the big online gambling firms are undergoing some form of restructuring or another, Betfair is going with that trend as it looks for a new CEO and maps out its future.Yu Leaves
After some speculation doing the rounds in the gaming community, Betfair finally made a stock market announcement that CEO David Yu will be stepping down from his position at the end of his current contract in October 2012.
The London-based company, technically the world's largest betting exchange with 2010 revenue of some GBP 341 million, will no doubt attract some big names in the e-gaming industry to apply for the job as chief executive.Leaders in Innovation
In Yu's five years as CEO Betfair's reputation as one of the internet leaders in innovation has continued to grow. In addition to the company's online sportsbook, Betfair today boasts poker, casino, in-play betting and exchange betting platforms that are very popular.
And just in the last month the company has attracted several talented names to its lineup, including former Yahoo exec Raj Vermulapalli as VP of mobile engineering, and Ian Chuter from William Hill as group operations director. These appointments are a good indication that Betfair's intends to keep developing its products as it competes with major rivals.