Tag Archives: Breon Corcoran

Betfair CFO Alex Gersh details corporate turnaround to Financial Director

Ahead of the release of Betfair’s Full Year 2015 financial performance results this Wednesday, Betfair CFO Alex Gersh gave in-depth insight to financial auditing business publication Financial Director on the operator’s turnaround since its 2012 corporate restructure. Gersh detailed to Financial Director how Betfair’s newly established executive team under CEO Breon Corcoran had transformed Betfair from its post 2011 IPO …

Read More »

Betfair calls for media planning review

Betfair has confirmed that it will undertake a review its European media buying account handled by Havas Media Group agency; Arena. The review of the sports betting operator’s media planning has been called by newly promoted Chief Marketing Officer (CMO) Johnny Devitt. Betfair had created the CMO role for Devitt following the departure of Brand Director Mark Ody, merging the …

Read More »

Betfair posts fourth consecutive quarter of double digit growth

Betfair governance announced its fourth consecutive quarter of double digit growth, as the operator detailed financial performance for Q3 2015 (three month period ended 31 January 2015) The operator saw group revenues up 20% to £114.6 million (Q3 2014 – £95.4 million), as it reported growth from all product verticals (See graph below). Betfair was further able to record revenue …

Read More »

Betfair TVG acquires HRTV network

Betfair Group plc  has today announced that its US subsidiary TVG has acquired the HRTV horseracing television network from The Stronach Group. As a result of the acquisition, TVG now has long-term television rights to the racecourses owned and operated by the Stronach Group. The television operations of the Stronach Group’s HRTV will be combined with Betfair’s TVG network. Following …

Read More »

Betfair 2014’s share price winners

John Ficenec Questor Editor for the Daily Telegraph reports that Betfair Plc have proven to be sports betting’s stock market winners for 2014. Betfair stock has risen 37% in 2014 (FTSE – £14.85), whilst competitors Ladbrokes (FTSE – £1.19) and William Hill (FTSE – £3.48) saw respective share price declines of 35% and 11%. The Daily Telegraph financial journalist commented …

Read More »

Increased player activity sees Betfair revenues surge 26%

Betfair Plc reported a 26% increase in revenues £237.6 million (H1 2014 £188 million) for its H1 2015 performance. The operator stated that its strong performance had been driven by a customer base growth, which had been supported by favourable sporting results and improved gaming cross-sell throughout Betfair’s product inventory. Improved revenue performance, saw Betfair report a strong EBITDA performance …

Read More »

Betfair Q2 revenues climb 22%

Betfair Plc announced that it had recorded a 22% rise to £119 million in Q2 2014 gaming revenues. The operator outlined that its positive performance had been driven by a strong growth in active customers and favourable sporting results reported during the period ending 31 October. Betfair senior management stated that the operator had continued its positive momentum, gained from …

Read More »

Breon Corcoran – sustainability key to Betfair’s future performance

Following the positive results published in its opening Q1 2015 results, Betfair Chief Executive Breon Corcoran outlined that the operator would focus on product refinement and operational sustainability in order to continue Betfair’s improved financial performance. The operator report increased net gaming revenues of 30% to £117.3 million (Q1 2014: £90.4 million). Betfair further reported that all gaming verticals had witnessed …

Read More »

Betfair shareholders divided over executive pay & rewards

Following its annual general meeting, nearly a third of Betfair shareholders voted against rewarding the operators executive management. The clash over executive pay comes in the week that Shareholder and corporate governance adviser Pirc had recommended that Betfair investor’s reject the operator’s interim report and accounts at the general meeting, due to the operator’s dividend misconduct over the past three …

Read More »

Betfair posts record quarterly revenues & profits

Betfair plc posted its opening Q1 2015 financial performance for the three month period ending 31 July 2014. The London listed operator posted a strong opening which saw net gaming revenues up 30% to £117.3 million (Q1 2014: £90.4 million).  Its sports betting division posted a 30% net revenue increase to £83 million (Q1 2014 £64 million), igaming divisions further …

Read More »