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Netplay TV CEO Higginson steps down, succeeded by MD Charles Butler

Netplay TV CEO Higginson steps down, succeeded by MD Charles Butler

NetPlay TV PLC (LON:NPT) said Martin Higginson has stepped down as a director and group chief executive in order to focus on the increased activities of his own investment company, M Capital Investment Partners LLP.

He will be replaced as CEO by current managing director Charles Butler, who will be responsible for the full day to day running of NetPlayTV with immediate effect.

Higginson has agreed to support Butler over the next few weeks during the transition process and will continue to advise the company on its strategy and media relationships on a consultancy basis.

Higginson established NetPlayTV in 2006 when he acquired a major shareholding in a small AIM listed company and rebranded it and transformed the business by moving into the live gaming arena; through a series of acquisitions, pioneering technology developments, and the establishment of a range of strategic media relationships, the level of bets has grown to in excess of £40 million per month.

Butler joined NetPlay TV in January 2010.  He qualified as a chartered accountant at KPMG and has spent the last 10 years in the gaming industry. Charles was the CEO of Bowman International, a global sportsbetting company, for six years developing it from a single product offering in one core market to a well diversified company running multiple products in more than 10 countries, before successfully negotiating its sale to the Bet365 Group.

Charles has also advised many online and landbased gaming groups on their strategy and subsequent implementation.

Martin Higginson said: "Starting any new business is always challenging and exciting; NetPlayTV has been no exception and we have created something unique in a crowded landscape. The recent successful placing and implementation of our revised strategy have created the opportunity for me to hand the reigns over to Charles. I have enjoyed working with him over the past 12 months and I am confident he has the right skills to take the business to new heights.

At the beginning of this month, Netplay TV raised £2.41 million net of expenses, significantly strengthening the balance sheet as it restructures the business, so it can return to profitability. The company issued 83.3 million shares at a price of 3 pence each.

"The funds raised through this placing will ensure NetPlay TV is able to complete its restructuring,” chairman Clive Jones said then. “We believe with a renewed focus on its core "live" casino products will allow the business to return to a sustainable profitable state. We will keep the market updated of future developments."

The company is also planning to reorganise its share structure, with a subdivision of share capital.

NetPlayTV operates a number of interactive gaming services under UK, Malta and Alderney gaming licenses, including SuperCasino.com, ChallengeJackpot.com and Bingos.com. These services can also be viewed 24 hours a day live on Sky, every evening on the terrestrial channels Five and STV plus Freeview.

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Netplay TV Plc Timeline

Article
February 02 2017
Article
September 13 2016
Newswire
January 14 2016

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