After an impressive tenure as the UK and Ireland commercial director at Betfair since August 2019, Tom Hayward is stepping into a new role as the managing director at Betfair for Flutter UK & Ireland.
Hayward’s journey with Betfair has been marked by dedication and progression since he first joined the company as a commercial graduate in September 2008.
Over the years, he has steadily climbed the ranks, holding various director positions and even serving as an integration director at the broader Paddy Power Betfair business.
In a recent LinkedIn post, Hayward expressed his enthusiasm for this new chapter, stating, “The Betfair dream continues.”
He highlighted the enduring excitement and satisfaction he has found in his work since his very first day in 2008.
He also acknowledged the privilege of being part of the Betfair culture and team, emphasizing the continuous learning experience that every day brings.
Flutter, Betfair’s parent company, recently shared its 2023 financial results, coinciding with Hayward’s appointment.
The company reported impressive figures, with revenue soaring to £9.51 billion, marking a remarkable 25% year-on-year increase.
The substantial growth was primarily attributed to Flutter’s success in the United States, where revenue from FanDuel surged by 38% to reach £3.06 billion, accounting for nearly 38% of the annual revenue.
In the UK and Ireland, revenue experienced a 15% boost, reaching £2.46 billion, while international revenue increased by 36% to £2.29 billion.
However, Flutter faced challenges in the Australian market, where revenue slipped by 8% to £1.17 billion.
In addition to these financial achievements, Flutter recently completed the acquisition of a majority stake in MaxBet, a Serbian sports wagering and gaming operator, for €141 million in September 2023.
This strategic move is expected to enhance the customer experience across the Balkans region and strengthen Flutter’s market presence.
Meanwhile, there was news of Richard Flint’s decision not to seek re-election to Flutter’s board of directors.
Flint, who had been part of the board since the merger of Flutter and The Stars Group in March 2020, is expected to step down at the conclusion of Flutter’s AGM in May.
Prior to this role, he had served as the executive chair of Sky Betting & Gaming until October 2019, and as CEO for ten years until the company was acquired by The Stars Group in 2018.