Webis Holdings MD Garry Knowles steps down

garryknowlesGarry Knowles is to leave Webis Holdings after 10 years at the Isle of Man firm. The group, which until recently operated Betinternet.com, announced his departure yesterday, with almost immediate effect.

In an announcement to investors, it said: “The board of Webis announce that by mutual agreement, Garry Knowles will step down as Group Managing Director and terminate his employment with effect from 30 April 2015. The board would like to take this opportunity to thank Garry for his considerable contribution to the Group over the last ten years.”

Ed Comins, Group Director and President of the firm’s US-facing WatchandWager.com operation, has been appointed as Group Managing Director with immediate effect.

In recent years Knowles had been heading up the Isle of Man-licensed sportsbook Betinternet.com, one of the earliest betting brands online, so when the group decided to close down the betting operation at the start of March citing onerous regulatory and levy requirements, Knowles’ subsequent departure does not come as such a huge shock.

The Board’s decision to close Betinternet was probably made easier thanks to the continuing success of W&W, which provides pari-mutuel wagering through distribution channels to a global client base. Currently, the company’s operations are fully licenced with a number of prestigious racetrack partners within the United States, Hong Kong, Canada, United Kingdom, Ireland, Australia and France, together with the Cal Expo Harness Racetrack operation in Sacramento, California; the latter licensed by the California Horse Racing Board. The board said that it believes a sole focus on developing and expanding upon W&W’s already impressive achievements is in the best interests of the Group.

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