The downsizing primarily affects the company’s grey market presence, most notably in Cyprus, Greece and Germany, in addition to Russia, the Ukraine, Norway and Canada. Betfair Malta managing director Steve Ives commented that the spreading of the dot country registration “will inevitably put pressure on groups to consider where they employ staff, which may explain some downsizing.”
Following Betfair’s annual results falling short of expectations in December, 2012, CEO Corcoran announced his plans to “reinvigorate the business by focusing on regulated jurisdictions” and to “invest in product and brand to enhance our competitive position and drive growth.” Partly due to the announcements as well as to the fact that Betfair continues to grow in major markets like Australia, the company’s shares are once again showing growth in value.
Source: Online-Casinos.com
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