What’s going on with the BetMakers (ASX:BET) share price today?

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Key Points

  • BetMakers share price up 7.87% to 68.5 cents
  • New CEO of North American operations
  • Bolsters existing management team

The BetMakers Technology Group Ltd (ASX: BET) share price is making a comeback on Thursday. This follows the company’s latest announcement regarding the appointment of a new CEO for its North American operations.

At the time of writing, the betting technology company’s shares are swapping hands for 68.5 cents, up 7.87%.

BetMakers bolsters leadership team

Investors are snapping up BetMakers shares after the company revealed that it has secured the services of an experienced gaming industry leader.

According to its release, BetMakers advised that Christian Stuart has been appointed as CEO of the North American operations, effective immediately.

Mr Stuart brings a wealth of knowledge to the key role, after spending the past 16 years in the United States gaming industry.

His previous experience includes holding several executive leadership positions with the largest gaming company in the US, Caesars Entertainment Inc.

Mr Stuart took on the role of senior vice president of business development at Caesars digital. Furthermore, he also served as head of Caesars Sports and Online Gaming, and EVP Gaming & Interactive Entertainment.

Mr Stuart’s skill set comprises of gaming strategies, executive operations management, mergers and acquisitions, and online gaming and sports betting divisions.

BetMakers CEO, Todd Buckingham commented:

We have been investing heavily into the US market for the past 3 years while at the same time building up a US-focused management team.

As a next milestone in these efforts, I am excited that Christian is joining the BetMakers leadership team as CEO of North America, given his vast leadership experience in the US gaming industry.

North America is a critical market for our Company with its potential for significant growth on the back of the widespread US sports betting expansion and the potential growth of fixed odds wagering.

BetMakers share price snapshot

The BetMakers share price has failed to take off in the past 12 months, losing more than 10% in value. The company’s shares hit a near 52-week low of 63.5 cents yesterday before staging a small rebound.

Based on today’s price, BetMakers commands a market capitalisation of around $553.15 million, with approximately 857.60 million shares outstanding.

The post What’s going on with the BetMakers (ASX:BET) share price today? appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Betmakers Technology Group Ltd. The Motley Fool Australia has recommended Betmakers Technology Group Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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