According to a company statement, Martin Higginson, NetPlay TV’s founder and CEO, has stepped down to focus on his own investment firm.
Over the next few weeks, Higginson has reportedly agreed to support his replacement, Higginson, who founded NetPlay TV in 2006, will be replaced by Charles Butler, the company’s current managing director. While Higginson will continue to advise the company on its strategy and media relationships on a consultancy basis following his resignation, his focus will be on his own investment company, M Capital Investment Partners. Basically, it’s time for a little “me” time for Higginson.
The company appears to be in good hands with Higginsons departure. Butler joined NetPlay TV in January this year and has a decade’s worth of gaming industry experience. Butler also served previously as CEO of sports betting company Bowman International, a business he grew significantly before selling it to Bet365.
Higginson’s resignation comes on the heels of huge company losses that were due to mostly to significant investment in a very unsuccessful six-month trial of its Bingo Stars product on ITV. Shortly after, NetPlay issued a profit warning in June after Bingo Stars failed to deliver the revenues the company expected. It was a gamble that quite simply didn’t pay off.