BetMakers confirms departure of North American CEO Christian Stuart

4th April 2023 9:20 am GMT

Sydney-listed betting technology provider BetMakers has confirmed the departure of North American CEO Christian Stuart, while promoting Chelsey Abbott to its executive team as chief people officer.

The supplier said that it continues to optimise its business following an organisational restructure, with Stuart stepping down as North American CEO after just over a year in the role.

“On behalf of BetMakers' board and wider international leadership team, we would like to thank Christian for his service and commitment during his time in the business,” said BetMakers CEO Jake Henson. “We wish him all the best for his next challenge, of which I'm confident he will be a tremendous asset.”

Commenting on his departure, Stuart said: “It has been a pleasure working with the team and advancing the interests of the company here in the US. I am confident we will see the company go from strength to strength as the US market expands.”

Las Vegas-based executive chairman Matt Davey commented: “Whilst we are still in the early phase of our restructuring, I am pleased to see the progress the team has made both internally and with our key industry stakeholders.

“At our core, we rely on great technology and strong relationships, which Christian has delivered well on both fronts. I am proud of what he has achieved during his time with us. Moving forward, we will continue to execute on market expansion and a relentless focus on optimising our business.”

BetMakers has also confirmed the promotion of Chelsey Abbott to chief people officer.

“This is an incredibly well-deserved promotion, and we are excited about the positive impact that Chelsey will make in this new capacity,” continued Davey. “As chief people officer, Chelsey will centralise the global People & Culture team and continue to drive the development and execution of our People and Culture strategy.

“She will also play a crucial role in shaping BetMakers' capability by driving an engaging workplace culture that empowers our employees to thrive.”

Meanwhile, BetMakers is set to expand its global racing distribution base through an agreement with The Stronach Group's 1/ST Content business.

Set to begin from May, the deal will see BetMakers' Global Racing Network's (GRN) race meetings made available for 1/ST Content's broadcast schedule. This includes racing content from racecourses at Kentucky Downs, Charles Town, Mahoning Valley, Penn National, Sam Houston, Zia Park and Monmouth Park, which will be broadcast through Sky Sports Racing in the UK and Ireland, as well as across other international media partners' websites.

The deal remains subject to completion of a formal agreement.

“The partnership with 1/ST Content is designed to be an important addition to BetMakers' Global Racing Network, further broadening our global racing distribution base with a strong and credible partner in expansive markets, which can deliver enhanced returns to our racetrack partners,” said Henson.

BetMakers added that it is relocating its headquarters to Melbourne where the CEO, along with other executive members, are now based.

Shares in BetMakers Technology Group Ltd (ASX:BET) closed at AUD$0.17 per share in Sydney earlier Tuesday.

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