Gambling Site Cuts 34 Jobs, Says Goodbye to President

Share this content:
Online wagering firm Youbet.com Inc. yesterday said it was laying off 34 employees -- close to a third of its work force -- and announced the resignation of president/CEO A.L. Frank.


Youbet.com, Los Angeles, said payroll money saved by the layoffs would be used to expand its core horse-race betting business. The site, at www.youbet.com, plans to combine its betting and sports-related products into one site.


Youbet.com's stock price was more than $6 per share when Frank took the company helm in February. Like many other dot-coms, its price plummeted during the ensuing months. The firm's closing price yesterday was $1.


Executive vice president Ron Luniewski has been appointed chief operating officer and will assume Frank's responsibilities.
close

Next Article in Digital Marketing

Sign up to our newsletters

Company of the Week

Since 1985, Melissa has helped thousands of companies clean, correct and complete contact data to better target and communicate with their customers. We offer a full spectrum of data quality solutions, including global address, phone, email, and name validation, identify verification - available for batch or real-time processes, in the Cloud or on-premise. Our service bureau provides dedupe, email/phone append and geographic/demographic append services for better targeting and insight. For direct mailers, Melissa offers easy-to-use address management/postal software, list hygiene services and 100s of specialty mailing lists - all with competitive pricing and excellent customer service.

Find out more here »

Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here