Etruvian Implosion?

ETRUVIAN IMPLOSION?

01st August, 2013 at 14:55:03
Source: http://www.azonlinecasinos.com

Poker's most successful super-affiliate sells out to partner

Barely a month after a Euro 38 million takeover by Playtech (see previous reports), Dominik Kofert's Etruvian group, comprising PokerStrategy, CasinoCheck and Tradimo, was reportedly in crisis this week.

Founder Kofert has apparently sold his shares in Etruvian to partner and the group's financial chief, Enrique Guzman, precipitating the departure of key managers allegedly in a purge of senior execs.

Among those departing was chief strategy officer Lutz Enke; chief revenue officer Matt Primeaux; chief legal officer Damon Barnard; chief financial officer Joanna Barnard and HR head Nicola Valarino.

Both Kofert and Guzman were reportedly on board to remain as consultants to Playtech when the sale of Etruvian was announced last month, bringing some 6 million members within Playtech's ambit.

Exacerbating an already difficult situation, a possibly disgruntled anonymous former employee briefed

Sam Miranda at Right Casino Media on the unsettled conditions at Etruvian, making allegations of bad public relations handling of the acquisition and subsequent events; discontent over internal arrangements associated with the new ownership; corporate cultural challenges; perceptions of weak and inexperienced leadership at group verticals; loss-making subsidiaries; insensitive treatment of staff; and friction between Kofert and Guzman.

Playtech, which is possibly less than happy at the bad publicity for its new acquisition, has so far remained silent on the disruptions at Etruvian, but industry observers will be watching developments closely as more detail surfaces.

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