Betfair Executive Quits

Betfair recently reported that Matt Carter one of its top executives in charge of technical architecture resigned from the internet casino after a stint of 10 years. To add on to this another five members of Carter’s team resigned too, they are Asher Glynne, Jonathan Westlake, Enzo Raso and Tony Ballardie.

Internet casinos reported previously that the following members of the internet casino resigned a few months ago: Mathias Entenmann, Betfair’s chief product and services officer; Charlie Palmer, head of mobile; Robin Osmond, chief executive of financial betting exchange LMAX; and Lee Cowles, director of UK sports and gaming. To compound matters further Betfair’s share price also dropped significantly from last autumn’s GBP13.00, to 775.5p per share on 27^th May, 2011.

Betfair’s reported the following in its IPO prospectus, “Our success has been on the up ever since, thanks in part to our aptitude to develop and introduce new client products in conjunction with new ground-breaking technologies.”

The document also states the following: Betfair will continue to develop the latest technology and it will do whatever is necessary to stay ahead within the internet gambling sector, especially when it comes to the introduction of new technologies in a timely and proper fashion.”

“There are no guarantees whatsoever that certain products/technologies will be accepted by players, or that it would be prone to viruses or failure. These factors mentioned could impact negatively on Betfair’s operations, financial performance and future prospects,” it concluded.

In regards to Carter’s resignation a spokesman from Betfair had the following to say, “I wish Carter the very best in his new endeavors, I’d like to reiterate the fact that the internet casino’s technology team received a significant boost when we employed a number of senior officials during the course of the last 18 months. For one, we appointed Raj Vemulapalli from Yahoo who heads the company’s mobile section and Michael Bischoff as director of information systems. In conclusion: “Our technology teams has never been stronger and our ability to stay abreast with any new technological innovations is equal to none.”