betinternet.com plc, the global on-line gaming group, today announces, with regret, that Sean Graham is stepping down from the position of trading director and resigning from the Board of the Company to pursue other interests. Mr Graham will be replaced by Garry Knowles who joins as head of trading. Mr Knowles brings extensive industry experience to betinternet having worked and held senior positions for the William Hill organisation both in the UK and on the Isle of Man for 16 years; and for MGM MIRAGE Online on the Isle of Man.
At the company’s recent AGM, it was announced that the outcome for the first half of the year would be materially below expectations, as first quarter profitability had been impacted by the lack of a major summer soccer competition and lower than anticipated margins since the commencement of the major European soccer leagues.
Whilst the Board is pleased to announce that margins have been restored to those previously experienced, such improvement will have little impact on the results for the 26 week period ending 30th November 2003.
Commenting on the change, Denham Eke, Chairman said ‘Sean has played a valuable role in the development of betinternet as a leading online gaming company and we wish him well for the future. We look forward to benefiting from the experience and input of Garry Knowles as we seek to further develop the betinternet offering.’