Paul Lavers says he’s not a betting man, but he thinks the growth in online advertising bodes well for his business’s future.

"Online advertising grew by 30 per cent in 2007 and (is projected to grow) by 30 per cent in 2008," said the president and CEO of SportsDirect Inc., a Halifax firm that compiles and distributes online sports statistics, odds and news.

"Advertising is moving online from print and TV and we’re positioned to help with that and to reach the sports demographic."

Mr. Lavers said that growth should help the company, which was founded in 1995, recover from the effects of a strong Canadian dollar and other factors that have forced the business to retrench — a process that has led to about 90 layoffs since last April, including almost 60 last week.

"It’s a shame to see good people go, but we had to resize for the market," said Mr. Lavers, whose firm signed a five-year agreement in 2006 with Nova Scotia Business Inc., the province’s business development agency, that would have given it $1.6 million in payroll rebates if it created 165 new jobs.

"We haven’t touched it," said Mr. Lavers, who noted that economic factors like the soaring Canadian dollar and a U.S. government decision to shut out European online gaming companies from the U.S. marketplace started to make their presence felt on his business shortly after the rebate deal was inked...

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