This week, Andy McIver, Sportingbet.com’s CEO, remarked to the journal eGaming Review, that revelations show that resulting from the UIGEA the firm and its employees have had to contend with a hard fight in the wake of its retreat from the American market. In spite of an increase in trade expecting an increasing profits from operations for the first three quarters till now of eighteen point seven million pounds, in contrast to last year’s six point seven million pounds, the firm has had to cut down unfortunately, leading to potential lay-offs at headquarters due to the relocation to Guernsey and Dublin of virtually one third of its employees. Only an advisory debate will decide whether that decision is final. David Hobday, the Chief Operating Officer, is among those leaving, and received praise from McIver who related to eGaming Review, that the company introduced David Hobday to the business when it was expanding too greatly. In the United States, business was great, and then unfortunately after half a year the UIGEA came about. It was then that we began to cut down in our dimensions, and waited to get stable and made a new reassessment of the predicament. Dave was in no way to blame. McIver stated that it is unfortunate for the people involved, and it appears a little bizarre that the company’s fortunes have so increased. Commenting further, he remarked, that for Hobday’s intense performance and devotion the board is thankful. In remarks on the improvement of the business operations, McIver added that it showed the many difficult stages the company had to cross since withdrawing from the United States towards the end of 2006 and this followed from a great deal of intense effort. He further claimed that when you miss out on the huge mass of business that the company suffered it’s a surprise they are still in business. For end of year predictions, the market seems to predict a sum of twenty eight million pounds and that would make us very satisfied. Posted on: May 20, 2008
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