SBTech, LeoVegas, and iSoftBet: Changes in Leadership in 2019
To broaden their presence in regulated markets, several prominent European gambling companies made key appointments at the beginning of the year. What are these changes and what are the goals of these industry titans?
SBTech, a Bulgarian betting and gaming services provider established in 2007, welcomed Gavin Isaacs, the ex-CEO of Scientific Games, as their new non-executive chairman. Isaacs will help guide the company, accelerating their growth in the US sports betting market, which underwent legalization in May 2018. He boasts over two decades of experience in the American gaming industry, having spent four years as CEO at Scientific Games in Las Vegas, where he also served as Deputy CEO. During Isaacs' tenure, the company's annual revenue doubled to an astonishing $2.9 billion (approximately €2.5 billion).
Prior to that, Isaacs held various leadership roles at other top US operators and suppliers, including seven years at Las Vegas-based Aristocrat Technologies. There he served as CEO and COO, and EVP at Bally Entertainment in Chicago. He also held the position of CEO at Paradise, Nevada's entertainment company SHFL.
Isaacs explains that multiple major gaming companies courted him during the last six months. He decided on SBTech, praising their "global market position and growth opportunities." SBTech has already made an impact on the newly regulated US market, according to Isaacs.
LeoVegas, a Malta-licensed and Malta-based online casino, appointed Avshalom Lazar, a former regulatory officer of Eastern European gaming company Fortuna Entertainment, as their new CCO (Chief Compliance Officer). In April 2019, Lazar will work with global regulators and licensors to ensure LeoVegas' products can be offered in all regulated markets. The decision to hire Lazar aims to bolster LeoVegas' compliance and regulatory strategy in 2019. Lazar shared his perspective:
"I'm confident that, together with LeoVegas' management, we'll further strengthen the company's strategy, all while acting responsibly and focusing on market growth."
LeoVegas CEO Gustaf Hagman highlighted Lazar's extensive experience in legal and regulatory issues, stating that it will aid "LeoVegas' continued growth in regulated markets." The announcement also highlights LeoVegas' recent reception of a license by Sweden's national regulator, Lotteriinspektionen.
iSoftBet, a London-based online casino games developer founded in 2010, recruited ex-IGT and Playtech executive Mark Claxton as their new head of games development. Claxton has held positions in the European gambling sector for 17 years. Most recently, he helmed IGT's UK division for more than two years. Previously, he served as Production Manager at Playtech's Ash Gaming for seven years. The new appointee stated:
"I'm thrilled to now be part of iSoftBet. A vibrant and dynamic company with a bright future and ambitious growth plans. I want to provide players with a memorable gaming experience."
Claxton sees vast potential in iSoftBet's gaming repertoire, given their notable gaming brands.
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iSoftBet is currently supplying its services and games to several big-name operators such as GVC, LeoVegas, and BetVictor. They've recently revealed that their revenue skyrocketed by 80% in 2018 compared to the year before, enabling them to put more money into creating new and exciting games.
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Source: www.onlinecasinosdeutschland.com
