Cruddace to leave Betfair after nine years
Corporate and legal chief to step down after recent regulatory wins
Betfair director of corporate and legal affairs Martin Cruddace is to leave the business this year after just shy of a decade at the London-listed operator, Betfair has confirmed to eGaming Review.
Cruddace (pictured), who is also the company secretary, joined Betfair in July 2004 and will step down at an unspecified date in the Autumn. Before joining the business he had spells with London law firm Schillings – where he was a partner – and Mirror Group Newspapers.
Cruddace’s departure comes on the back of William Hill losing its legal appeal regarding betting exchange customers’ levy contributions, and progress towards exchange regulation has been made in both Italy and Spain in recent months.
He was also heavily involved in last July’s five-year agreement between Betfair and British Racing which has seen the operator commit to donating 10.75% of horseracing revenues to the sporting body. At the time Cruddace described the deal as “A genuinely groundbreaking moment”
Cruddace leaves just weeks after the rejection of a 950p a share bid for Betfair by CVC Capital Partners, with the operator pledging to pursue further acquisitions, funded by its £168m cash balance, following the £5m purchase of Blue Square.