Resignation confirmedLinkedIn, Stebbings confirmed that he will officially leave the position on 29 September.
“After nearly 30 years I have decided that it is the right time for me to leave Betfred,” Stebbings said. “I am immensely proud to have been part of an incredible growth story.
“I must give special thanks to [Betfred founder] Fred Done who has been an unbelievable mentor to me and for the belief and faith he put in me as I made my way through the ranks from a trainee betting shop manager to group chief operating officer.”
Stebbings added that his last week in the job will be “emotional”, as he prepares to bid farewell to “so many great people who I have worked with for a number of years.”
“I’m sure Betfred will continue to grow and I wish Fred and his team continued success,” he concluded.
Stebbings will now take a short break to spend some time with his family before deciding on his next steps, per his LinkedIn post.
Industry stakeholders were quick to wish him well in the post’s comments.
Avenue H principal Benjie Cherniak said: “You leave behind quite the legacy Mark. Enjoy the time off – it is well deserved. Look forward to seeing what you get up to next.”Stephen Crystal, who worked with Stebbings on Betfred’s entry into the US, said: “Where others dropped out, we soldiered onward!” while wishing him the best for his future plans.
Dozens of other commenters took the opportunity to wish Stebbings well in the future.
Management changes at Betfred
Betfred is now likely to be searching for a replacement for Stebbings in the group COO role, but the company has not yet made a public statement on the matter.
Last week, COO of Betfred USA Bryan Bennett also announced his departure from the company on LinkedIn.
He described his tenure with the operator as “one of the most exciting, fun, rewarding, challenging, frustrating, and exhausting experiences of my career… sometimes all in the same day.
“But it was never boring,” he added.
Earlier this month, former Hard Rock International SVP Kresimir Spajic was appointed as CEO of Betfred USA.
Betfred’s online operations are currently live in seven US states; Arizona, Colorado, Iowa, Ohio, Pennsylvania, Virginia and Maryland.
In addition, the business operates retail sportsbooks in Louisiana, Nevada and Washington.