People news 30/08/12
A round up of industry moves from the last week (24 August to 30 August 2012).
Codere numbers rise as new CFO joins
Spanish operator sees overall revenues rise by 29% but net profits slide down 24.7m due to Mexico restructure – Ricardo Moreno becomes new CFO replacing Angel Corzo who becomes deputy CEO.
Spanish operator Codere has seen revenues rise by almost a third in the first half of this year due largely to its increased stake in Mexican gaming machine, bingo hall and betting operator ICELA, however its online operations remain a minor part of its overall numbers.
Overall revenues increased 187.5m, or 29.7%, to 819.7m compared to the same period last year with first half EBITDA 155.5m, an increase of 15.3% compared to 134.9m in 2011.
These results reflect strong growth in Mexico and Argentina, the company said, partially mitigated by weakness in Spain and Panama, however net profits were down 24.7m due, largely, to the restructure of a number of its assets in Mexico, the company said.
As of June 30 this year Codere owned 56,187 gaming terminals, 184 gaming halls, 926 betting locations, three race tracks as well as online gaming operations in Italy and licences in Spain.
Seven days in people news:
GB Group appoints CTO
Identity management specialist GB Group has appointed former Betfair development director Tony Stansfield as its new chief technology officer.
Stansfield has more than 20 years’ experience in developing software systems and implementing technology strategies for a number of organisations including Betfair and the Royal Bank of Scotland. He joins GB Group from JD Williams where he has spent three years leading the applications support and development team, comprising 110 people and where he was responsible for adopting efficiency improvements and business benefits through improved technology.
Prior to this he was development director at Betfair, reporting directly to the board, with responsibility for software development for customer products and services with an annual budget in excess of £32m.
Playtech has appointed Ron Hoffman as its new chief financial officer, replacing current incumbent David Mathewson when he retires at the end of this year. Hoffman has been with the software provider since 2004, most recently holding the title of VP of finance.
English poker player Sam Trickett has been named as the latest ambassador of the International Stadiums Poker Tour (ISPT), joining three-time World Series of Poker bracelet winner Michael Mizrachi. Trickett is the highest-earning British player and fourth on the all-time money list, with lifetime earnings of more than US$16m.