Betfair names ex-Ticketmaster VP as US chief
Kip Levin takes the reins of operator's US businesses comprising TVG, America's Horseracing Network and Betfair Casino
Betfair is “well positioned to be a market leader” in the US, according to ecommerce veteran Kip Levin who was named as CEO of Betfair’s US business on Wednesday.
Levin, who has held senior executive roles at Live Nation and Ticketmaster, takes responsibility for horseracing firm TVG, America’s Horseracing Network and Betfair Casino, its online casino gambling and poker operation in New Jersey.
Prior to joining Betfair Levin was executive vice-president of ecommerce at Live Nation for more than four years, having previously led Ticketmaster’s product and digital business.
Betfair’s group CEO Breon Corcoran praised Levin’s multi-product, mobile and large-scale business experience as “great fit” to the firm’s US and global business strategy.
Betfair US saw revenues increase 19% to $39.8m for the second half of 2013, driven primarily by TVG, the online horserace wagering business it acquired for $50m in January 2009.
However the operator has endured a slow start in New Jersey, where it partnered with the Trump Plaza casino to launch online poker and casino products under its own brand.
Its casino site has struggled to compete with the likes of Caesars and the Borgata, and it has also delayed a full launch of its poker brand while it waits for more Ongame operators to join the network.
“With the launch of BetfairCasino.com in New Jersey, the new HD upgrades at TVG, and a record-breaking day during the Kentucky Derby, Betfair US has great momentum, and is well positioned to be a market leader,” Levin said.
“Together with the Betfair team, I’m looking forward to delivering the future of online gaming,” he added.