Global wagering technology firm, BetMakers, is implementing austerity measures. The organization recently declared a suite of cost-reduction initiatives intended to optimize processes and enhance productivity.
These initiatives encompass a reorganization of the executive board and leadership structure, regrettably resulting in workforce reductions. Although the firm has not disclosed precise figures, they have indicated a 23% decrease in their global employee base, targeting a headcount of around 440 by the initial quarter of 2024.
The firm anticipates these adjustments will yield substantial operational cost savings, aiming for a 23% reduction to $70 million by the first quarter of the 2024 fiscal year. These anticipated savings are primarily linked to a comprehensive global restructuring of operations and technological infrastructure.
Non-executive director, Nick Chan, stressed that these actions are essential for the company’s strategic repositioning. The central objective is to attain profitability, elevate cost efficiency, and refine capital deployment strategies.
The head of BetMakers, Jake Henson, expressed deep satisfaction with the company’s enhanced efficiency, achieved through investments in advanced technology and strategic process improvements. He firmly believes that this technology-driven approach, coupled with their international expansion strategy, will drive sustained prosperity.
Executive Chairman Matt Davey highlighted BetMakers’ dedication to working more intelligently, rather than simply increasing effort. By refining their global operations, they aim to achieve profitable expansion. He is certain that this reorganization will enable them to prioritize their fundamental platform and offerings, ultimately delivering greater value to their clientele worldwide.
In a recent development, BetMakers solidified its collaboration with Kwiff, a fellow gaming enterprise. The partnership will focus on delivering premium horse and greyhound racing solutions.
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