US Bookmaker BetOnSports Bullish Outlook
Published: Friday, July 29, 2005 Online-Casinos.com
BET ON SPORTS BULLISH OUTLOOK
ex-Carmen Media men could make a difference
Despite a rather disquieting sell-off by one of the sportsbookies biggest shareholders, BetonSports remains bullish on its future, with a dynamic management partnership involving ex-Carmen Media men shaping up.
Based in Costa Rica, but with the US online gambler clearly in its sights, BetonSports is predicting a rise in profits for the first half of this year, and there has been a noticeable change in corporate strategy evidenced by major investment in online marketing spend. The advertising and marketing budget is set at a substantial $14.4 million, and over $10 million of this has already been committed. The bookmaker company will publish its report in October 2005.
Making things happen with this online marketing war chest is the recently recruited William Griffiths as marketing director. This experienced executive worked closely with the new BetonSports operations director Clive Archer during his time at the Carmen Media online casino gambling group.
Another new arrival is Scott Waller as Chief Technical Officer. He will have his hands full with a reported complete software upgrade scheduled for early 2006. The gambling company has also reiterated that it is in the market for acquisitions, although the going rate for worthwhile buys is inflated at present, fuelled by the successful flotation of Party Gaming (partypoker) in the sector.
The recent sell off of a major part of its shares by BetonSport's largest shareholder, Boulder Overseas Corporation had a disquieting effect. Boulder sold GBP 28.75 million worth of it's 43 percent holding, although it retains an interest of 15.46 percent of US bookmaker BetonSports.
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