BetMakers has confirmed that North American CEO Christian Stuart will depart the business later this week after 15 months at the helm.
Stuart joined the Australian-based gambling tech group in January 2022 to lead its North American market growth following a lengthy stint with Caesars.
BetMakers’ CEO Jake Henson cited an ‘organizational restructure’ for the reason behind Stuart’s departure, adding: “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.
“We wish him all the best for his next challenge, of which I’m confident he will be a tremendous asset.”
The outgoing CEO of North America spent over 11 years with Caesars, rising through the ranks to eventually become Head of Caesars Sports & Online Gaming before departing to take up the role at BetMakers.
Stuart commented on his departure: “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.
“BetMakers remains committed to unlocking organizational efficiencies, aiming to move the business into a position of positive cash-flow generation and positioning the Company to capitalize on organic and inorganic growth over the next 18 months.”
This announcement comes as BetMakers confirmed that its headquarters would be relocating to Melbourne, Australia, where its entire executive team will now be based moving forward.
BetMakers seals 1/ST deal
The Australian group also notified investors that it has penned a non-binding term sheet with 1/ST Content to distribute its Global Racing network’s race meetings across international betting markets.
The deal will take effect from May. 1 and will see BetMakers content from racetracks such as Kentucky Downs, Charles Town, Mahoning Valley, Penn National, Sam Houston, Zia Park, and Monmouth Park to be available for 1/ST Content’s broadcast schedule.
Henson stated: “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.”
