As reported by the Financial Review, the company decided against a possible payment of a compensation of AU$ 7 million ($5 million) for the famous gaming entrepreneur. BetMakers explained that the canceled bonus payment comes after Tripp did not deliver a “transformational deal” for the company. Considering the hefty compensation, the deal, reportedly was a condition for receiving the bonus payment.
Moreover, a previous bonus payment of AU$ 15 million ($10.7 million) triggered an investigation. Last year, Tripp benefited from a compensation package from BetMakers which ignited an investigation by the ASX. The aforementioned bonus payment was secured by the gaming entrepreneur at a time when BetMakers confirmed he collaborated with the company by “exclusively advising on B2B opportunities.”
Despite the position Tripp held with the company, the ASX probed whether or not the bonus payment had to receive the approval of BetMakers’ shareholders. At the same time, the compliance watchdog sought to determine if the shareholders of the company had to be made aware of the compensation package payment.
Bonus Payment Cancelled amid Leadership Changes
The latest announcement about the canceled compensation comes after earlier this week, BetMakers introduced changes to its C-suite. At the time, the company unveiled it sought to optimize its operations in an effort to boost the potential of the business.
“BetMakers Technology Group are delighted to announce the following management changes as we look to enable optimization of the full potential of the business,“
reads a statement released by the company
As a result, BetMakers selected Matt Davey for the position of president and executive chairman of the company’s Board. Todd Buckingham, who held the position of CEO, was appointed to the role of chief growth officer. Buckingham was also assigned a specific project.
“This is a formidable team and places the Company perfectly for the next phase of achievement and growth,“
explained BetMakers
On the other hand, Jake Henson was selected for the position of global CEO. Last but not least, Martin Tripp was appointed to the position of global chief operating officer.