New Betfair CEO boosts stake

14th Jan 2013 16:45

Breon Corcoran, the new Chief Executive Officer of FTSE 250 online betting firm Betfair, purchased 25,000 shares at the end of last week, it was announced Monday. He bought the shares at 658.94p each, costing him a total of £164,735. Chief Financial Officer Alexander Gersh also boosted his stake in the group, buying a round of 20,000 shares at 657.45p each, and handing over £131,490 in total. In its most recent report, the company said that it is reducing its exposure to markets with an uncertain regulatory future. Speaking in mid-December, Corcoran said: "The review we have carried out over the past four months has demonstrated a number of strengths. Betfair has a unique product offering, strong brand affinity and scale in the UK. However, we have also identified a number of areas requiring change and fixing these will take time. "Recent regulatory developments have been challenging and we are reducing our exposure to markets with an uncertain regulatory future. We will focus investment within regulated markets with sustainable revenues." Top Director BuysSierra Rutile Ltd (SRX) Director name: Mr Jan Alex CastroAmount purchased: 460,000 @ 53.00p Value: £243,800Betfair Group (BET) Director name: Mr Breon CorcoranAmount purchased: 25,000 @ 658.94p Value: £164,735Betfair Group (BET) Director name: Mr Alexander Gersh Amount purchased: 20,000 @ 657.45p Value: £131,490Sierra Rutile Ltd (SRX) Director name: Mr Michael BrownAmount purchased: 105,000 @ 53.00p Value: £55,650President Energy (PPC) Director name: Mr Peter M LevineAmount purchased: 100,000 @ 25.00p Value: £25,000Sierra Rutile Ltd (SRX) Director name: Mr Michael BartonAmount purchased: 35,000 @ 53.00p Value: £18,550Top Director SellsCapital & Regional (CAL) Director name: Mr Kenneth FordAmount sold: 172,278 @ 28.28p Value: £48,720