CORPORATE CONFIDENCE

1 February 2008

Sportingbet's CEO increases shareholding


Reuters news agency reports that the Chief Executive Officer of UK gambling group Sportingbet, Andrew McIver, has increased his shareholding in the company to a total of 1.2 million shares.

Midweek, the executive purchased a further 100 000 shares at 41p each, laying out GBP 41 000 of his personal funds to do so in a show of confidence in the company and its future.

Sportingbet recently welcomed ex-chairman Peter Dicks back to the boardroom table as non-executive chairman (see previous InfoPowa reports.)

McIver joined Sportingbet in December 2001 as Group Finance Director. In October 2006, in the wake of the UIGEA and with the group reversing out of the US market, he replaced retiring CEO Nigel Payne to become Group Chief Executive for the Sportingbet Group.

Aged 46, McIver qualified as a Chartered Accountant in 1988, and after a brief stint in investment banking, held senior finance positions at House of Fraser Plc, Signet Group Plc, and Ladbrokes Plc.

Online Casino News courtesy of InfoPowa