Tag Archives: Strategy

Inspired Entertainment promotes Pierce to CEO 

Inspired Entertainment promotes Pierce to CEO 

Inspired Entertainment has promoted its current president and chief operating officer Brooks H Pierce to the role of chief executive.

Pierce succeeds former CEO, A Lorne Weil, who has subsequently been promoted to executive chair of the supplier’s board.

Besides his CEO duties, Pierce will also continue in his role as chief operating officer and have additional oversight on company strategy.

As part of the promotion, Pierce’s terms of employment have been extended to 31 December 2026. His base salary has increased to $585,000 with a bonus eligibility of up to 110% of his annual salary, meaning he could earn up to $1.2m depending on performance.

Alongside Pierce’s promotion, executive chairman Weil’s terms of employment have been extended to 31 December 2027.

Weil’s updated terms of employment include a salary increase to $800,000 per annum, and an 80,000 yearly limit on shares.

The business said the leadership changes were part of a wider plan to streamline strategic oversi..

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Kambi to pursue efficiencies as it aims for €150m profit goal

Kambi to pursue efficiencies as it aims for €150m profit goal

Kambi expects to pursue a more personnel-light strategy within its trading department by 2027 as it pivots to an algorithm-led approach in order to hit an ambitious long-term operating profit target.

Kambi this morning revealed a €150m (£130.9m/$161.9m) earnings before interest and tax (EBIT) target for 2027 and, in a capital markets day, executives outlined how the business intends to reach that figure.

The business also revealed that it expected revenue in 2027 to be between two and three times the size of its 2022 revenue. As the relative growth in EBIT would be larger than the relative growth in revenue, this suggested that Kambi hopes to increase its profit margins as it expands.

Now, the supplier has provided more detail of this, with a pivot towards more algorithmic trading helping to drive the projected increase in efficiency.

Kambi embracing algorithmic trading

Kambi deputy chief executive Erik Lögdberg described this pivot as “third-generation sports betting”. He said th..

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PMU aims to increase stakes by €1bn by 2025

PMU aims to increase stakes by €1bn by 2025

French horse racing operator Pari-Mutuel Urbain (PMU) announced a three-year strategic vision to grow its annual stakes by €1bn and to increase its total number of customers to four million.

The business outlined a series of transformations for the company in the period including a “global approach” to PMU’s growth, the deployment of new technology and the development of marketing channels.

“By 2025, PMU will write a new page in its business plan,” said PMU managing director Emmanuelle Malecaze-Doublet. “Our objective of generating €1bn in additional stakes in 2025 and of having more than four million customers is ambitious and based on a collective spirit of conquest. During this period, PMU will develop its employer brand and its engagement policy to attract and retain talent.”

pmu aims to exceed four million total customers by 2025

Malecaze-Doublet elaborated on the specific loci within the business that would be a focus for transformation.

“The transformation of the company w..

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No ordinary Joe

No ordinary Joe

If anyone can lay claim to having been in and among the events that have completely reshaped the global betting and gaming market in the four-and-a-half years since PASPA fell it is Joe Asher, writes Scott Longley. The former CEO at William Hill US now heads up sports betting at IGT and recently joined as shareholder and advisory board member at USAbility and is ready for the next challenges that will be thrown up in an expanding market.

In some senses, the decision by the US Supreme Court to bring down PASPA acted like a meteorite hitting the betting and gaming sector.

In that moment, in May 2018, everything changed and everyone involved in the global industry have been living with that transformed landscape ever since.

But for Joe Asher, at the time the chief executive of what was then still called William Hill US, the decision of the country’s top judges was very far from having just landed out of nowhere.

In the room where it happened

It was a ruling that had been signalled ..

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Luckbox owner to acquire Asia-facing B2B platform

Luckbox owner to acquire Asia-facing B2B platform

Luckbox owner Real Luck Group has signed a letter of intent to acquire an unnamed igaming platform targeting the Asia-Pacific region.

Real Luck Group will acquire 100% of the shares in the Asia-facing business, which it says will give it access to more than 6,000 games from 50 game providers.

Real Luck Group chief executive Thomas Rosander said that the business had long aimed to add a B2B element to its portfolio, but that through this deal it is set to accomplish this sooner than it had expected.

“Adding B2B to our proprietary platform has always been a significant part of the Luckbox strategy, and this important acquisition means we will complete this objective almost a year in advance of our projections,” he said. “It also extends our opportunities into APAC, a significant region that we currently do not have a presence in and perhaps the largest esports market globally.

Real Luck Group CEO Thomas Rosander

“This transaction ultimately builds our business’ upside by providing ..

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Lahcene Merzoug on PressEnter’s management buyout

Lahcene Merzoug on PressEnter’s management buyout

Fresh from announcing a management buyout, PressEnter CEO Lahcene Merzoug talks to iGB about the new leadership's strategy and future plans.

So, the cat is out the bag; PressEnter Group will be under new (or should we say old?) management.

There are many questions that remain: Will the new chairman stay the course or head to uncharted waters? What form will the shape of the business’ future growth take? And what’s the plan with the company’s brands?

The business formerly known as Betpoint has reinvented itself before, though only the new owners know what the plan is now. Current CEO and future executive chair Lahcene Merzoug explains in his own words.

What was the rationale behind the management buyout, and what important factors led the executive team to decide to go down this route?

The management team has grown the business into what it is today, so we could clearly see the potential in the company and its operations. When the opportunity to buy PressEnter Group arose, ..

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MaximBet ceases operations amid “challenging” macroeconomic conditions

MaximBet ceases operations amid “challenging” macroeconomic conditions

Online gambling operator MaximBet has ceased all operations with immediate effect citing “challenging macroeconomic conditions” and an “increasingly cost prohibitive marketplace”.

MaximBet announced the decision in a message to customers, saying they will have until December 15 to withdraw any funds in their accounts. After this date, any remaining balances will be refunded via check sent to the address on the account.

Players are no longer able to deposit more funds or place net bets, but MaximBet said that it would settle any existing bets in line with its MaximBet House Rules until December 15. At this point, MaximBet said bets will be cashed out at “current fair value market pricing” and player balances will be returned via check.

MaximBet was founded in April of 2021 through a collaboration between sports betting operator Carousel Group and media brand Maxim, supported by a $50m investment from the xSigma subsidiary of Chinese engineering business ZK International.

At the time..

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Kindred set for strong Q4 as Netherlands “exceeds expectations” in Q3

Kindred set for strong Q4 as Netherlands “exceeds expectations” in Q3

Kindred said it is “exceeding expectations” in the Netherlands and expects rapid revenue growth in the final months of the year, after reporting its first quarter of revenue since reentering the market.

In Q3 of 2021, Kindred reported revenue of £277.8m, which was down by 6.9% year-on-year. Almost all of this revenue came from B2C operations, at £271.9m, while B2B revenue – from Relax Gaming – was £5.9m.

The decline in revenue continued to be down to the operator withdrawing from the Netherlands at the start of Q4 2021. While the operator returned to the country during the quarter, generating revenue again, the amount Kindred took in was less than before the country regulated, as was expected.

Kindred said it was “exceeding expectations” with 137,000 active Dutch customers, and brought in around £400,000 per day since launching on 11 July. Chief executive Henrik Tjärnström added that the business had around a 15% market share in the country.

“Thanks to our strong brand awareness, u..

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Ontario report

Ontario report

iGB’s new report on Ontario offers exclusive insight into Canada’s most populous province – and the first to regulate betting and igaming.

When the Ontario market opened in April this year, it wasn’t quite brand new ground.

Anyone in the industry could tell you that the grey market in Canada’s largest province had been thriving for quite some time.

Still, bringing the province from grey to white offers certainty and new opportunities for many.

Six months on, we have a sense of the spoils available. Operators – excluding the lottery – brought in a combined CA$267m in the three months ended 30 September.

The biggest challenge in the province, however, may be marketing rules. Operators can offer bonuses, but may not promote them. As Marese O’Hagan writes in our progress report, that’s been difficult, but it hasn’t seriously dampened excitement about the jurisdiction.

And for now, those complying with the rules still need to compete with some unlicensed brands, which continue to do b..

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Nygaard-Andersen: Interest rates won’t stop Entain from acquiring

Nygaard-Andersen: Interest rates won’t stop Entain from acquiring

Entain chief executive Jette Nygaard-Andersen has said high interest rates will not stop the business from making new acquisitions, and may even “open up new doors”.

Nygaard-Andersen spoke on an earnings call after Entain published a third-quarter earnings update. Revenue was up 2% year-on-year for the group, thanks to both record customer numbers and a favourable impact from currency movements.

When asked whether the new macroeconomic environment and high interest rates would make acquisitions difficult due to the costs of borrowing money, Nygaard-Andersen said that this was not necessarily the case.

“We of course remain vigilant and very prudent,” she said. “But the health of the business remains good. We still have a strong pipeline on M&A and we have opportunities that we will continue to pursue.”

The results came after a busy period of acquiring for the business, with Nygaard-Anderson noting the business agreed nine acquisitions in the past 18 months, including those of Unikrn..

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