Bet365 names Moran as first Australia CEO

Bet365 has named Daniel Moran as the inaugural CEO of its Australia-facing arm as it works to turnaround the loss-making business, eGaming Review can reveal.

Moran, who served as CEO of Sportingbet Australia from 2000 to 2002 prior to long-serving boss Michael Sullivan, joined bet365 last month.

The 46 year-old Australian spent a year as group IT director for Sportingbet in the UK between 2002 and 2003, before taking on the role of CEO at World Gaming for three years. He has been working outside of the egaming sector since 2006.

The move is understood to be have become a necessity as the Australian business reaches a scale which requires an experienced leader based in the country where it now employs 210 staff.

Despite launching the bet365 brand in Australia in mid-2012, theoperator posted losses of AU$40m (£22.5m) in its 2013 financial year. When including 2012’s financials, the venture has cost the firm $77m (£42.6m) in the space of 24 months.

Revenues and customer numbers, however, are on the rise. Bet365 reported its Australian customer base had grown by 83% during the 12-month period ended 31 March to 73,000 and that revenues had increased 278% to $29.1m (£16m).

In August the company said it believed its Australian arm would deliver a positive financial contribution to the group in the long term.

The sportsbook-only operation – all other forms of egaming are banned in the country – stands in stark contrast to its Stoke-headquartered parent company, which posted record profits of £320m for the 2013 financial year.

Bet365 declined to comment on this story when contacted by eGR.