(PRESS RELEASE) -- Real-time sportsbook platform provider FSB Technology UK Ltd has installed former Sportingbet founder and one of the pioneers of online gaming, Mark Blandford, as chairman of the business.
Blandford’s appointment comes just a few weeks after the business successfully completed a £2.6 million funding round, its third since launching in 2008.
The proceeds of the funding round will be used to launch FSB Tech’s managed sports betting solution. The first customer for the new service is Genting Alderney, which will promote the service in the U.K. under the GentingBet brand.
Mark Blandford is one of the pioneers of the online gaming industry. After twice building and selling a chain of betting shops in the 1980s and 1990s he was one of the first people to recognize the potential of the internet for sports betting. He sold his retail chain and founded Sportingbet listing it on the OFEX London stock market in 1999. Within five years, Sportingbet had moved up to AIM with a market capitalisation in excess of £2bn. It subsequently achieved a main market listing and entered the FTSE 250. Blandford was awarded AIM Entrepreneur of the Year in 2002.
After stepping down from the board of Sportingbet in 2007, Blandford has become one of the most active, successful and most widely followed investors in the digital pay2play entertainment space.
David McDowell, co-founder and chief executive of FSB Tech, said: “Mark was quick to spot the value of a modern proprietary sports betting platform delivered as a B2B service. For Mark to agree to become Chairman is a huge endorsement of our team and vision.”
Blandford added: “FSB Tech’s managed sports betting solution is the most advanced on the market, while the Genting contract and the strong sales pipeline gives me great confidence in the business model. It’s an honour to accept the Chairmanship and I’m really looking forward to helping the business grow.”
FSB Tech was co-founded by Sam Lawrence and David McDowell. David was a founder of recently listed GameAccount Network and sat on the board for 12 years.