NetPlay TV founder Higginson steps down

Martin Higginson, the founder and group chief executive of interactive gambling firm NetPlay TV, has stepped down from his post with immediate effect.

Yesterday, Higginson confirmed that he was leaving the company to focus on the "increased activities" of his investment vehicle, M Capital Investment Partners.

Higginson founded NetPlay TV in 2006 after acquiring a major shareholding in a small company and rebranding it as a business for the emerging live gaming market.

He helped grow NetPlay to an operation handling more than £40m worth of bets every month on a range of services, including interactive casino shows on ITV1, STV and Channel 5.

Higginson will be replaced as group chief executive by Charles Butler, who joined NetPlay in January this year from global sportsbetting company Bowman International.

"It has been a pleasure working with Martin since joining Netplay TV and I want to thank him for all his help and guidance," said Butler.

"Martin has used his considerable entrepreneurial skills, energy, and vision to grow NetPlay TV from being a small entrepreneurial business to a major UK media business. It now delivers its unique converged TV, internet and mobile casino product on both ITV1 and Channel 5.

"It is my job to now build on these solid foundations. With the recent placing successfully completed, the company has been placed on a firm footing, with a clear strategy, and a renewed focus on the core live casino product. I am confident that 2011 will be a very productive year."

Higginson said that it was "challenging and exciting" to establish the NetPlay business as "something unique in a crowded landscape".

He added: "The recent successful placing and implementation of our revised strategy have created the opportunity for me to hand the reigns over to Charles.

"I have enjoyed working with him over the past 12 months and I am confident he has the right skills to take the business to new heights. I would like to personally thank everyone who's been involved with making NetPlay TV the business it is today."