Larsen targets NetPlay TV growth after securing permanent CEO role

Larsen targets NetPlay TV growth after securing permanent CEO role

Tuesday, January 13, 2015 Totally Gaming

Bjarke Larsen, the newly appointed chief executive of NetPlay TV, has told TotallyGaming.com that the interactive gaming company will continue its current “strategic direction” under his leadership. 

Larsen has taken the role on a full-time basis after having previously held the position in an interim capacity following the decision by Charles Butler to stand down last year.

“The group’s strategic changes, designed to deliver improved returns through increased cost efficiencies and more accurately targeted marketing spend, is showing encouraging results,” Larsen told TotallyGaming.com.

“Overall Q4 marketing spend has been reduced, the average cost to acquire new depositing players has fallen and average revenue per player has increased. 

“The company will continue its stated strategic direction and it is in a strong position to take advantage of the consolidation opportunities that the recent regulatory changes will bring.”

Having first joined the firm in 2007 as casino campaign and account manager, Larsen went on to serve as project manager and head of products, before being promoted to commercial director last year prior to his appointment as interim chief executive. 

“Bjarke has been with the group for eight years and with his significant company and industry experience is well placed to lead the company in its next stage of development,” said Larsen’s predecessor Butler, who now serves as non-executive chairman.

Larsen’s appointment was confirmed in a trading update published by NetPlay, in which it also outlined the results of a review of its marketing programme.

NetPlay said that the strategy had been established in order to boost returns through “increased cost efficiencies and more accurately targeted marketing spend”. 

NetPlay said in the update that the process included terminating existing “onerous and inefficient” marketing contracts as well as working with television partners to maximise the effectiveness of guaranteed airtime contracts.

As a result, marketing expenses in the fourth quarter decreased, while the average cost to acquire new depositing players fell and average revenue per player both increased.

NetPlay also noted that revenue in the period amounted to £6.4m (€8.2m/$9.7m) while the number of new depositing players and active depositing players grew.

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