Along With One Third Of Its Staff, Sportingbet.Com Has To Let Its Chief Operating Officer Go

After its withdrawal from the United States market as a result of the UIGEA, Sportingbet.com, the company and its employees, are facing a real struggle. This was made known recently by the company's CEOf, Andy McIver, while speaking to the publication eGaming Review.

In spite of the fact that a trading update anticipates rising operating profits of GBP 18.7 million (as compared with 2007 profits of GBP 6.7 million), for the first nine months up to date the company had to pass through a painful downsizing. This has led to cuts of up to a third of the staff at the head office level, following the company's move to Guernsey and Dublin. The final assessment is an issue for the consultation process.

Included in those who will be leaving are David Hobday, the Chief Operating Officer who received high praises from McIver who told the eGaming Review that the company had brought David Hobday to compensate for the tremendous earlier growth of the business. At that time the U.S. market reported doing very well, beat then sadly six months later, UIGEA was passed. McIver explains how this led to a great do of downsizing followed by a later reassessment of the situation. McIver stresses that Hobday is in no way at fault for the situation.

McIver, while noting that those affected are suffering, notes the irony of the company having had such a good period before this. McIver also mentioned that the company's board had thanked Hobday personally for his hard work and dedication.

Making note of the present improved business situation, McIver said it is due to a tremendous amount of work that was necessary since the company's having to withdraw from the U.S. market and of it's being the end result of a lot of hard work.

McIver says that if any company were to have lost the amount of business that they did following the UIGEA , it would be amazing for them to still be around, as they are. He also notes that the market is forecasting for the end of the year, a profit of GBP28 million, which makes him and his company happy.

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