BetMakers CFO resigns after more than five years of service
Anthony Pullin steps down from finance leadership position as the Australian firm completes the next step in Punting Form acquisition
BetMakers CFO Anthony Pullin will depart the Australian supplier on 27 March after tendering his resignation to bring an end to his five-year spell with the firm.
Pullin originally joined BetMakers in October 2018, marking his first foray into the gambling sector having previously spent more than five years as an investment manager with White Cloud Capital.
Pullin also counts experience with the likes of the Bank of England, KPMG Australia and Duke Street during his financial career.
The process for appointing Pullin’s replacement is underway, with BetMakers noting it expects to provide an update shortly.
In the meantime, BetMakers’ group financial controller, Warrick Wan Der Merwe, will act as the company’s CFO in the interim.
Merwe has been with BetMakers for the last three years and previously led the Australian and group financial reporting teams that funnelled up to Pullin.
On Pullin’s resignation, BetMakers CEO Jake Henson, commented: “We thank Anthony for his significant contribution to BetMakers. Over the past five years, Anthony has been a valued senior team member, adding financial rigour to our business.
“He leaves BetMakers in a strong position, with the foundations now in place for the company to achieve profitability. We wish Anthony all the very best for his future endeavours where I have no doubt he will be an extremely high-valued team member.”
Pullin’s departure comes 14 months after BetMakers shifted its senior management team, with Henson stepping up to become CEO and former boss Toddy Buckingham moving to a newly created chief growth officer position.
Elsewhere, BetMakers is set to pay a further A$3m (£2.4m) to the former owners of Punting Form after they satisfied requirements of the acquisition agreement penned in October 2022.
BetMakers had entered into a share purchase deed to acquire Punting Form, and now the sellers of the company have produced required North American race and sectional data, they will now receive the special deferred amount of A$3m.
As outlined in the deed, the special deferred amount can be paid in either cash, ordinary shares or a combination of both at the firm’s discretion.
BetMakers will make an initial cash payment of A$500,000 immediately, with the manner of the remaining payment to be determined by the firm’s board and paid or issued within the next 10 business days.
Henson remarked: “This represents the completion of the initial consideration for the Punting Form business and we are pleased with the development of the product as well as the underlying performance of the business so far.”
The CEO also confirmed that over the next 12 months, BetMakers will further integrate the Punting Form asset into its core offering, including into its NextGen wagering platform.
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