David Carruthers
| David Carruthers | |
|---|---|
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| Born | September 1957 Edinburgh, Scotland |
| Occupation | Businessman |
| Website | davidcarruthers |
David Carruthers (born September 1957 in Edinburgh, Scotland) is a British businessman who was the CEO of online gambling company BETonSPORTS plc from July 2000 until July 2006. He was arrested in the United States on 16 July 2006 on charges related to his role as CEO of that company; he was subsequently convicted of racketeering conspiracy and sentenced to 33 months in prison.
A native of Edinburgh in Scotland, Carruthers attended art college before joining Ladbrokes Plc, the UK's largest retail bookmaker in 1976, where he became the youngest betting shop manager at the age of 19. During a twenty-four-year career with Ladbrokes, Carruthers graduated with an MBA from the University of Wolverhampton and rose to manage business development strategy for Ladbrokes shops in West England. He managed around forty of the business’s then 1,900 high street betting shops, managing the Midlands and south Wales territories.
While residing in St. Louis, David established himself as an elite masters distance runner. The extent at which he was able to participate in the local running community while constrained to his house arrest mandate is perplexing. Masters PR's Mile – 4:58 2009 Big River Running Macklind Mile 3,000m – 10:06 5,000m – 17:47 10,000m – 37:24 2009 Go! St. Louis Halloween 10k Marathon – 3:07:29
(21st overall) (38th overall)
In July 2000, while it was still a privately held company, Carruthers was appointed as CEO of BETonSPORTS, and tasked with bringing the company to a stock market listing.
This he achieved in July 2004 when BETonSPORTS plc successfully listed on the London AIM stock market, and raised £54.6 million (at the time US$101 million).
At the time of the initial listing 48.1% of the company's issued share capital was placed with institutional investors. The offering was underwritten by Evolution Beeson Gregory. It was the third largest IPO fundraising on AIM during 2004.
Carruthers oversaw rapid growth for the company, which more than tripled its operating profits during his tenure. He was appointed to the board of directors on 18 June 2004. BETonSPORTS had a turnover, for the year ended 31 January 2004, of US$1.6 billion. The Group generated a 276% increase in turnover over the period 1999–2004 and profits before tax rose from US$0.6m to approximately US$26m during the same period.
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