Betfair to part company with UK director

[Al Gobbi]

Betfair is parting company with its UK director, has begun a cull of staff, laying off 50 translators in the first evidence of a big strategy shift since the arrival of the gambling group’s new chief executive and has withdrawn its betting exchange from Germany after hitting another stumbling block.

http://www.proactiveinvestors.co.uk/companies/news/50035/betfair-pulls-plug-on-german-betting-exchange-50035.html

http://www.ft.com/intl/cms/s/0/e324147c-2a86-11e2-99bb-00144feabdc0.html

[classhandicapper]

I know exchange betting is somewhat controversial from the industry's point of view, but from a gamblers point of view I see this as another example of government killing the goose that lays the golden egg.