CORCORAN CONFIRMED AS NEW BETFAIR CEO


Breon Corcoran has been appointed the new CEO at Betfair


The worst kept secret in the iGaming industry has been confirmed with the news that Breon Corcoran has been appointed the new CEO at Betfair. The 40-year-old, who was formerly Chief Operating Officer at Paddy Power, replaces David Yu and will take up his new role on August 1,2012.

“Betfair’s unique technology provides the company with a fantastic position in the online gaming industry and I believe it has a bright future ahead of it.

I am very pleased to have the opportunity to lead the company and look forward to working closely with the Betfair team to grow the business further,” said Corcoran.


“We have conducted a very thorough international search process over recent months and I am delighted that Breon will be Betfair’s new CEO,” added Betfair’s Chairman, Edward Wray.


“He joins at what is an exciting time for Betfair and brings with him significant industry experience and a track record of success. The combination of his online expertise and gaming sector knowledge makes him ideally suited to the role.”
 
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BETFAIR REPORTS RECORD REVENUES


Betfair has released a trading update for the twelve months to the end of April




Betfair has released a trading update for the twelve months to the end of April showing an eight percent year-on-year increase in total revenues to £368.6 million.

The company revealed that its adjusted earnings before interest, tax, depreciation and amortisation rose 36.9 percent when compared with the previous twelve-month reporting period to reach £73.2 глйоп while its profits increased 54.4 percent year-on-year to hit £35.1 million.

"The past twelve months have seen significant changes at Betfair as the business continued to grow and made the transition to being a public company," said David Yu, Betfair s Chief Executive Officer.
Betfair announced that its 2011 fiscal year had seen the number of bets matched increase by 20 percent year-on-year to 916 million while sportsbetting revenues from football swelled 24 percent when compared with the previous twelve-month period. It declared that all of this sees islanding debt-free with £155 million in tie bank while it held £305.6 million in customer funds as of April 30. which was up from £284 million for the 2010 fiscal year.

"We are pleased with trading for tie first eight weeks of the 2012 fiscal year for non-risk sports, games and poker, which is in-line with our expectations," continued Yu.

"Revenues in the more volatile area of risk sports, however, are currently below expectations due to an adverse margin performance during May. As anticipated, core Betfair revenues in this period are lower than the prior year comparative period, which was significantly inflated by the World Cup and was the last quarter prior to the migration of our Poker product."
 
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FOR ALL Betfair Games Fans


The Deposit £20, Get £30 casino offer is here!



The Deposit £20, Get £30 casino offer is here! Don't miss out this great casino offer!




First time users of Betfair will be given £30 as a bonus when they deposit at least £20. The promotion is currently supported by a TV campaign using Betfair ambassadors Will Greenwood and Michael Vaughan.

The creative follows the same theme as the TV adverts to give consistency and make the banner instantly recognisable.

This is a great offer to introduce Betfair to new casino players as they get £50 to play with by depositing only £20!

To activate the promotion, customers must sign up with code BTV032, this will happen automatically if you click on the banner and/or landing page. The bonus comes with a 40 times wagering requirement, using our standard game weighting into account.

This is a UK only offer. Start running this fantastic offer today!

Good Luck!
 
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