BetMakers US CEO departs amid 1/ST content agreement
ASX-listed supplier confirms personnel changes plus relocation of headquarters
BetMakers has confirmed its US CEO Christian Stuart will step down from his role with the Australian Securities Exchange (ASX)-listed supplier with effect from April 6.
Stuart leaves BetMakers after just over a year in the US-facing role, having joined from Caesars in December 2021 where he spent more than a decade in a number of senior roles, most notably serving as the firm’s head of Caesars sports and online gaming.
Commenting on his departure, Stuart said: “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 global CEO Jake Henson paid tribute to the outgoing Stuart, hailing his work in the business since joining.
“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,” Henson said.
“We wish him all the best for his next challenge, of which I’m confident he will be a tremendous asset,” he added.
Stuart’s departure comes amid a wholesale reorganization of its executive level team to create organizational efficiencies, the stated aim of which is to “move the business into a position of positive cash-flow generation” while also preparing for both organic and inorganic growth.
In January, BetMakers rejigged its senior team, naming former board member Matt Davey as president and executive chairman, while also promoting COO Jake Henson to CEO and transitioning Todd Buckingham to the newly created role of chief growth officer.
In tandem with announcing the departure of Stuart, BetMakers has confirmed the promotion of Chelsey Abbot to be the firm’s new chief people officer.
In her new role as CPO, Abbott has been tasked with centralizing BetMakers people and culture team as well as spearheading its overall strategy, with the aim of developing a strong workplace culture.
“This is an incredibly well-deserved promotion, and we are excited about the positive impact that Chelsey will make in this new capacity,” BetMakers chairman Matt Davey said.
BetMakers has also confirmed the relocation of its global headquarters to Melbourne, where CEO Henson as well as a number of its other executives are based.
Elsewhere, BetMakers has confirmed the execution of a non-binding agreement with The Stronach Group subsidiary 1/ST Content, centrered around the distribution of BetMakers’ global horseracing network’s racing meetings into a number of international markets, including the UK and Ireland.
BetMakers content included in the deal include races from Kentucky Downs, Charles Town, Mahoning Valley, Penn National, Sam Houston, Zia Park, and Monmouth Park.
1/ST’s distribution network includes through Sky Sports Racing in the UK and Ireland, as well as across other international media partners’ websites.