Increased Shareholding For Sportingbet CEO 

The Chief Executive Officer of UK gambling group Sportingbet has increased his shareholding in the company to a total of 1.2 million shares.

According to the Reuters news agency, Andrew McIver purchased a further 100,000 shares last week for a total of over $81,000 in a show of confidence in the company and its future.

McIver joined Sportingbet in 2001 as Group Finance Director and replaced the retiring Nigel Payne in 2006 in the wake of America’s Unlawful Internet Gambling Enforcement Act (UIGEA) legislation that saw the company reverse out of the US market.

The news follows the company’s announcement that it had recently welcomed back ex-Chairman Peter Dicks to the boardroom as Non-Executive Chairman.