Tabcorp Holdings (ASX:TAH) has seen its shares jump by more than 5% after the betting company appointed Michael Fitzsimons – the current executive officer of the Hong Kong Jockey Club (HKJC) – as its chief wagering officer.

In his new role, Mr Fitzsimons will oversee all core wagering functions including digital, retail, tote, trading, product, and marketing. He brings more than 20 years experience in global sports betting experience across Europe the U.S., and Asia.

The position was created as a result of Tabcorp’s simplified Executive LeadershipTeam structure – announced in December last year – which evolved to ensure that all wagering functions will fall under one executive.

At HKJC, Mr Fitzsimons has been in charge of strategy, trading, marketing, data, and product development for fixed odds, parimutuel, and lottery products. His current role encompasses oversight of one of the world’s largest totes, including the World Pool platform, along with Risk Management of China Sports Lottery’s 120,000 betting branches.

His prior experience includes the Stars Group, where he was director of International Trading and Operations; a role in which he successfully launched the PokerStars Sportsbook and relaunched SkyBet in Germany and Italy.

He is also on the executive of the World Tote Association (WoTA).

Tabcorp managing director and CEO elect Gillon McLachlan said bringing Mr Fitzsimons on board was an important achievement for the company, especially considering he’s “one of the world’s most sought-after wagering executives.”

“He has a deep knowledge of international sports betting, trading and tote,” he said.

“Michael is a rare find – he knows digital and retail wagering and is one of the few people in the world who can connect both to grow a wagering product.”

Tabcorp last traded at 62.2 cents – a rise of 5.5% since the market opened.

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