Youbet.com Inc. said Tuesday that Chief Operating Officer David Goldberg has been named chief executive, effective immediately. Goldberg succeeds Michael Brodsky, who will become executive chairman.

Goldberg joined the Burbank online horse racing and horse betting site last August from Ticketmaster, where he was executive vice president in charge of sales and marketing, mergers and acquisitions and business development.

As executive chairman, Brodsky will focus on corporate development, investor relations, strategic initiatives, and legislative affairs. Brodsky, who had been CEO since April 2008, was until March of this year managing partner of New World Opportunity Partners I LLC, an investment firm that is Youbet? second largest investor.

Chairman Jack Liebau praised Brodsky for turning around the e-commerce company and returning it to profitability. ?ith the platform now established, I know David is well prepared take the reins from Mike and grow Youbet even further over the long term,?Liebau said in a statement

Youbet.com shares were down 4 cents, or 1.5 percent, to $2.76 in midday trading on the Nasdaq.