4 February 2012

Bosses quit Betex

25/05/2007 Robert Tyerman

Peter Greenhill, chief executive of Chinese lottery operator Betex, has resigned following police detention of staff in China.

Stuart Barker, finance director of AIM-listed Betex, has also quit in the wake of the recent detention by Chinese police of two of the company’s senior executives in Beijing. Non-executive director Philip Goodmaker has also resigned from the company, whose shares, once standing at 81p, are now suspended at 32.5p.

The Chinese authorities are understood to have detained Betex staff involved with software technology for the Beijing lottery on the grounds of alleged ‘gambling and illegal operations’. The company, chaired by Hong Kong lawyer and entrepreneur Johnny Hon, said the allegations of illegality do not extend to any of its other operations in China.

Betex has appointed Jeremy Longley, a consultant with the company since 2005 ‘with considerable experience of the betting and gaming sector’, as chief operating officer.

Sector: General Financial

Companies: Betex

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