Betfair says that the company’s drive to cut costs and shift its focus to regulated markets has been completed, with the operator now looking to reinvest in marketing as well as establishing new revenue streams in the Italian and New Jersey gaming markets in the short-term and revitalise the company’s online gaming vertical and Australian business in the long-term.

Following publication of the company’s H1 results this morning, Betfair chief executive Breon Corcoran said that with operating costs down £18m as a result of reducing the headcount by over 500 people and phasing marketing spend, his management team was “focused on growing the business now.” 

He claimed that the company had up to £100m to invest in marketing its exchange product...

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