Ladbrokes overhauls Betdaq and Ireland management teams

Ladbrokes has overhauled the management of its Betdaq and exchange businesses following an internal review with the two divisions moved within its digital operations unit, eGaming Review has learned.

The shake-up also sees the departure of Betdaq managing director Lewis Findlay who will be replaced by former Betdaq product director Shane McLaughlin, however the Betdaq team is to remain in Dublin.

Betdaq operations will now fall under Ladbrokes’ digital director Jim Mullen’s remit, while its trading team will report into the operator’s trading director Andy Wright.

As a result of the restructure the management of Ladbrokes Ireland is to be brought under the operator’s International division, headed by international and group strategy director Damian Cope.

A spokesperson for Ladbrokes told eGR the changes are the result of a review of its Irish business found it had failed to be competitive and needed “much greater focus”.

Current Belgium digital director Ian Catchick is to take the Ireland reins as soon as a permanent replacement for him is found in Belgium, for which a hiring process is understood to be nearing completion.

Northern Ireland will however continue to report into Ladbrokes’ UK Retail division.

The restructure comes at a time when Ladbrokes is still seeking a successor for chief executive Richard Glynn who is to stand down from his position in April and the new CEO will need to continue to build out the product set to compete in the hugely competitive UK and Ireland markets.

Ladbrokes acquired Betdaq for an initial consideration of €30m in 2013 and has since used the technology platform to launch its own Ladbrokes Exchange betting product.

A “stage two” enhancement followed last year which included the integration of the exchange alongside Ladbrokes’ fixed-odds markets, with additional product enhancements also understood be under development.