London-based Leisure and Gaming has announced that its Chief Executive Officer, Henry Birch, has decided to step down in order to pursue other interests.
Birch assumed the role in 2006 after serving as a Director since the firm’s flotation on London’s Alternative Investment Market in 2004. He took over as the company was in turmoil following the passage of America’s Unlawful Internet Gambling Enforcement Act (UIGEA) and the sale of its US-facing operations before subsequently leading a successful turnaround.
Leisure and Gaming stated that Birch is to be replaced by Richard Creed, who only replaced Michael Baird as the firm’s Chief Financial Officer in May. The firm revealed that Creed will continue to oversee all of its financial functions with the assistance of Paul Milburn, Finance Director of main subsidiary Betshop Group.
Leisure and Gaming plc is a holding company focused on the online betting and gaming sector with operations consisting of Internet and retail sportsbetting service BetShop Italia, pan-European casino and poker business BetShop.com, mobile and virtual soccer information service GoalsLive.com and online casino AcropolisCasinos.com.
'With the company successfully restructured post-UIGEA and returned to profitability and stability, I feel the time is right for new challenges,” said Birch.
“We are very fortunate to have in Richard Creed, an experienced and effective executive with strong sector experience, who can continue to grow the company and take it to its next stage of development. I leave the company in good shape and in safe hands.'
Leisure and Gaming recently announced that trading for the first half of the year has been line with market expectations with estimated earnings of $1.87 million. It revealed that it expects to have its full estate of Italian shops operating this month and anticipates being able to offer online poker throughout its network before the end of the year.