Aristocrat’s chief executive officer, Trevor Croker, has addressed the company’s recent performance, expressing optimism in its ability to digitalize its traditional casino games.

In his address during the annual general meeting, Croker commented on Aristocrat’s FY results, praising the company’s growth. He pointed out that FY23 saw the company deliver revenue of $6.3 billion and an EBITDA margin of 33.4%.

Net profit before amortization stood at $1.3 billion, representing a profit improvement of 21%. The iGaming segment skyrocketed, reporting revenue and profit growth of 22% and 23% respectively. International Class III products, on the other hand, posted revenue growth of a whopping 87%, underpinned by strong performance in EMEA and Asia.

The company’s NA presence increased, placing Aristocrat’s growth well ahead of that of its competitors.

We once again generated robust operating cash flow, which was applied to fund our growth initiatives, including capital investments in our installed base in North America and the strategic acquisition of Roxor Gaming.

Trevor Croker, CEO & MD, Aristocrat

The Roxor acquisition closed in January 2023, allowing Aristocrat to grow its European iGaming footprint. Following that, Aristocrat also moved in to acquire NeoGames in a deal that it is yet to complete.

The Largest Growth Opportunity Lies in the RMG Sector

As for the future, Croker is optimistic about Aristocrat’s business in North America. The company recently forayed into Quebec’s VLT market. The company is also set to launch VLTs in Georgia in 2024.                                               

The company also plans to continue its investments in D&D as it seeks to differentiate itself from its rivals. Croker cited the recent launch of NFL-themed electronic gaming machines as a perfect example of this.

However, the largest growth opportunity lies in the RMG sector, Croker believes. He said that the performance of its first releases quickly proved that Aristocrat’s land-based casino games would resonate online.

We will take our successful gaming portfolio online through a multi-year roll out plan, ensuring a steady stream of new game launches, both in North America and in Europe, where our acquisition of Roxor has established a foothold from which we can further expand penetration of our leading content.

Trevor Croker, CEO & MD, Aristocrat

In the meantime, Aristocrat reaffirmed its commitment to sustainability and ESG, saying that they are a fundamental expression of the company’s values. Croker added that his team is genuinely concerned about the dangers of excessive gambling and will continue to involve itself in responsible gaming initiatives.

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GAN, a major B2B technology provider of gaming solutions, decided to put its interim CEO, Seamus McGill, at the helm of the company, this time permanently. As the company’s new CEO, McGill will be tasked with overseeing the looming merger with Sega Sammy.

McGill was named interim CEO in September 2023, succeeding Dermot Smurfit who stepped down from the position. Prior to this appointment, McGill served as chairman of GAN’s board of directors.

GAN’s new CEO boasts robust experience in the tech and gaming sectors and is a suitable appointment to the company’s C-suite. He boasts some 25 years of experience within technology and gambling, having served a variety of influential companies across several countries and continents.

The appointee’s impressive track record includes tenures at Aristocrat, Cyberview Technology, JOINGO, Mikohn Gaming and WMS Gaming.

McGill joined GAN’s board back in April 2014, meaning that he now has a solid decade-long experience with the company’s business. His reliable expertise is sure to provide the company with an edge when it comes to its future endeavors.

In addition to serving as CEO, McGill will continue to be a part of the company’s board of directors.

McGill Thanked the Board for Its Confidence

GAN’s current chair, David Goldberg, welcomed McGill as permanent CEO, saying that his expertise and leadership abilities made him the “most qualified candidate” to be the firm’s new leader.

Seamus has been with the Company since 2014 and has a deep understanding of GAN’s products, customers, and strategy. On behalf of the entire board of directors, I’d like to congratulate Seamus on his appointment and we look forward to his success.

David Goldberg, chair, GAN

McGill commented on his new position, saying that he is honored to be named GAN’s CEO. McGill extended thanks to Goldberg and the rest of the board for their confidence.

Going forward, our focus remains unchanged. We remain committed to a timely closing of our transaction with Sega Sammy to maximize value for all of our stakeholders.

Seamus McGill, CEO, GAN

Speaking of the Sega Sammy merger, the transaction was just approved by GAN’s shareholders, despite an ongoing legal challenge from several disgruntled plaintiffs.

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The bold iGaming provider leading the way with innovative solutions, EveryMatrix, has announced that its co-founder, Stian Hornsletten, will move to the position of chief executive officer of the Games division at the start of next month.

The news comes after the WLA Safer Gambling–certified company appointed Nikolina Gabelica as the new head of lottery earlier in the week. 

The Move, Ahead of ICE London 2024

From his new position as CEO, Hornsletten will manage the Games team right ahead of the much-anticipated ICE London 2024 that will return at ExCeL London on February 6-8. 

The event will once again reunite representatives of the gaming industry over the course of three days packed with education and networking. 

ICE London 2024 visitors will be able to visit EveryMatrix representatives at the stand N6-210.

Hornsletten to Keep His Active Senior Role on the Board

The new CEO of the Games division will focus on “driving both in-house development and third-party content partnerships” which should also feature building on the provider’s worldwide distribution network and exclusive content. 

In parallel, Hornsletten will preserve his active senior position on the company’s board.

As a former chief commercial officer, he has been one of the main actors behind EveryMatrix’s commercial strategy and product development in the past decade and a half, carrying the business from a simple vision to one of the quickest-developing, most trustworthy suppliers of technology in the iGaming world. 

He has also helped attract some of the biggest brands and convinced them to integrate EveryMatrix’s state-of-the-art software and services. 

As one of the most prominent figures in the industry in the last 20 years, Hornsletten has employed his leadership skills and rich knowledge to help the company turn into a global leader in terms of tier-1 technology suppliers.

The CCO position will be filled shortly. EveryMatrix has announced it will soon appoint someone who will be responsible for the commercial department and who will also closely collaborate with every business unit to improve the company’s international efforts.

The group’s chief executive officer, Ebbe Groes, praised Hornsletten for his crucial role in making EveryMatrix become a reality while expressing his gratefulness for discussing the idea of “starting the business together 15 years ago.”

Groes added that Hornsletten would benefit from all his support as well as the full support of the company while expressing his belief that he would “immediately” take EveryMatrix to a new level while breathing his amazing energy, passion, and innovation into the crew. 

Last November, EveryMatrix announced a deal with Caesars Digital to help with its growth plans in North America. 

Earlier in the same month, the company published its Q3 2023 results that reaffirmed its growth trajectory.

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Leading online affiliate and content marketing specialist Raketech announced that Oskar Mühlbach will depart from his role as chief executive officer. The company cited strategic disagreements between Mühlbach and the board as the reason for this departure but pointed out that all parties agreed to this development.

According to Raketech’s announcement, Mühlbach had different views on the strategic direction of the company and agreed to depart. He has been with the company since December 2019.

In the meantime, Johan Svensson, Raketech co-founder, chief commercial officer and former board member, will take on the role of acting CEO until a permanent substitute has been hired.

Svensson, for reference, stepped down from the company board in October 2023, opting to instead focus solely on his CCO role. Svensson served as the CEO of the company until 2017 and has the experience necessary to serve as interim head of the company until a suitable successor has been appointed.

According to Raketech’s announcement, Svensson assumes the role of acting CEO with immediate effect. This leadership change comes almost a month after the appointment of Dalia Turner as the company’s chief people officer.

Chair Bengtsson Thanked Mühlbach for His Contributions

Ulrik Bengtsson, Raketech’s board chairman, commented on the matter, praising Mühlbach for his incredible service. Bengtsson applauded the outgoing CEO’s leadership qualities, saying that he led the company through an important strategic transformation and a growth journey.

As Mühlbach and the Board of Directors have different views on the strategic considerations for the Company going forward, we have agreed to part companies. The Board is confident in appointing the co-founder and former Board member Johan Svensson to lead the company until a new permanent CEO is in place.

Ulrik Bengtsson, chairman, Raketech

Bengtsson thanked Mühlbach for the company’s success over the past years.

Following this announcement, the company’s shares plummeted but Raketech reassured investors that the leadership change will not change its FY 2023 guidance. For reference, Raketech is trading for SEK 17.42 per share as of the time of this writing.

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The leading business-to-business provider of services and solutions, powering betting operators across the globe, Kambi Group, announced changes to its senior leadership. On Monday, the company confirmed that its co-founder and CEO, Kristian Nylén, intends to step down from his role. The CEO and co-founder notified the company’s Board of Directors, confirming that he plans to step down at some point this year, whenever a successor for the role is appointed.

Nylén co-founded Kambi together with Anders Ström back in 2010. Since then, he played an instrumental role, navigating the business through different obstacles and successfully achieving many important milestones that made Kambi a go-to supplier of sports betting solutions.

Besides the plans for the CEO to step down from his role, Kambi confirmed that its Nomination Committee proposed Nylén for election to the Board during the upcoming 2024 Annual General Meeting (AGM).

Commenting on the topic, Ström, who serves as a chair of the Board, praised the efforts of Nylén that helped ensure Kambi is a leading provider for the growing betting sector. He spoke about the outgoing CEO’s dedication and commitment that helped the company achieve many milestones over the years. “I am delighted the Nomination Committee has proposed Kristian for the Board, where his extensive industry knowledge will continue to greatly benefit Kambi,” added Ström.

Nylén Was Instrumental for the Success of Kambi

He predicted that Nylén will continue to guide Kambi and help it create value for its shareholders. According to the Board’s chairman, Nylén’s shift to a Board position reaffirms his dedication as a major shareholder and founder of the company. Finally, Ström said that Kambi will start the search for a new CEO and vowed to deliver updates in due time.

“Kristian’s role has been critical in positioning Kambi as a frontrunner in our sector.“

Anders Ström, chair of the Board at Kambi

Nylén also commented on the topic explaining that the decision to leave his role at Kambi was a tough one. Yet, he confirmed his plans to spend more time with his family as a reason behind the difficult choice.

“The decision to stand down from my position at Kambi after so many enjoyable years has been difficult, but one predominantly driven by my desire to spend more time with my young and growing family.“

Kristian Nylén, co-founder and CEO of Kambi

Speaking about the proposal to join the company’s Board, Nylén said that it is an honor for him to accept this proposal. He outlined that he currently remains committed to helping Kambi continue to grow. Finally, Nylén explained that once he transitions to the role with the Board, his focus will shift toward the “strategic aspects” of the business.

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Svenska Spel, a Swedish state-owned gambling operator, has named Anna Johnson as the successor of its current chief executive officer, Patrik Hofbauer. The latter announced his exit earlier this year, opting to explore other opportunities instead.

Johnson will serve as Svenska Spel’s new president and CEO and is set to step into the office by June 2024, the former Swedish monopoly announced.

According to Svenska Spel, its new CEO boasts a master’s degree in economics from Mitthögskolan in Östersund. She is also an authorized accountant with an impressive track record behind her back.

Aged 50, Johnson currently serves as a partner and CEO of Grant Thornton, a global accounting and consulting firm. She boasts decades of experience in accounting and has held a number of leading corporate positions at Grant Thornton. She was appointed as the agency’s CEO seven years ago and has leveraged her experience to bolster the firm.

Hofbauer, meanwhile, is set to leave Svenska Spel very soon. Starting on February 1, 2024, the incumbent CEO will join the Swedish telecommunications juggernaut Telia Company. Following the departure of Hofbauer, Erik Strand, Svenska Spel’s board chair, will serve as interim CEO until Johnson takes office.

Johnson Is Honored to Have Svenska Spel’s Trust

Strand commented on the new appointment, praising Johnson’s track record of successful leadership positions. He lauded her ability to build strong teams, create more customer value and deliver profitable growth. According to the chairman, Johnson’s drive and curiosity made her a perfect fit for Svenska Spel.

The board and I are very much looking forward to working together with Anna and her management team.

Erik Strand, chairman, Svenska Spel

Strand added that Sweden’s former gambling monopoly has implemented many changes in recent years. He believes that the company is now poised to offer engaging and safe gaming experiences to its customers in the country.

Johnson also commented on his new position, saying that it represents a “fantastic opportunity.” The new CEO added that she is honored to have the trust of one of Sweden’s strongest gambling brands. She also praised the company’s commitment to sustainable entertainment, saying that this philosophy provides benefits both to the Swedish people and Swedish sports.

I am really looking forward to leading Svenska Spel’s journey of change together with the employees and continuing to create results.

Anna Johnson, CEO appointee, Svenska Spel

Speaking of Sweden, BOS’ general secretary, Gustaf Hoffstedt, just weighed on the country’s newly-proposed gambling tax, saying that it would be a “gift to the black market.”

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The Malta Gaming Authority has unveiled a new major leadership appointment. As reported by the regulator, its Board of Governors has chosen Charles Mizzi to succeed Carl Brincat as chief executive officer.

Brincat’s departure from the MGA was announced in October when the outgoing CEO said that the decision to leave didn’t come easy.

According to MGA’s announcement, Mizzi will step into the office on January 26, 2024. The appointment comes as a result of the public call issued on October 30, 2023 and the following selection process.

Before joining the MGA, Mizzi served as the head of the Residency Malta Agency for five years. He played an important role in the organization’s ambition to solidify Malta’s reputation as one of the most reputable and desirable residencies by investment jurisdictions.

According to the MGA, Mizzi is a “dynamic and results-driven professional” who boasts extensive experience in operations management. These qualities, the MGA Board of Governors believes, make him a perfect fit for the authority. The MGA is convinced that Mizzi will build on the solid foundations laid by his predecessor and the rest of the team.

Speaking of Mizzi’s predecessor, before officially assuming responsibility as head of the MGA, the new CEO will spend several years shadowing Brincat. This step of the process will ensure a smooth transition at the helm of the authority, the MGA explained.

Mizzi Hopes to Build on MGA’s Successes

Mizzi commented on his new position, saying that he feels “honored” to have been given the opportunity to lead the MGA. He promised to work hard alongside the rest of the MGA team to build on past successes.

I am keen to build on past successes and, together with the team under the guidance of the Minister responsible and the Board of Governors, to strategically steer the Authority forward so that Malta’s already robust position in the field may be further strengthened, while delivering value to all stakeholders.

Charles Mizzi, to-be CEO, MGA

Malta’s Minister for the Economy, EU Funds and Lands, Silvio Schembri, thanked Brincat for his exceptional service as CEO of the MGA. Schembri also welcomed Mizzi as the next head of the MGA, praising his vast operational experience and contributions toward major projects.

Schembri concluded that “Charles Mizzi is undoubtedly the right candidate to continue building on what the MGA has achieved so far.”

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DraftKings CEO, Jason Robins, has expressed confidence in the company’s position in the online gaming market, stating that the recent launch of ESPN Bet does not pose a threat to DraftKings’ trajectory. 

DraftKings CEO Jason Robins Stresses Product Excellence

Speaking at the 3rd Annual Craig-Hallum Online Gaming Conference, Robins acknowledged the competitive landscape but emphasized DraftKings’ focus on maintaining a strong product and staying true to its playbook.

Despite the significant impact of ESPN Bet’s launch, with over a million downloads in the first six days, Robins remains optimistic about DraftKings’ market standing. He highlighted the company’s history of facing waves of competition and its ability to navigate through them successfully. Robins mentioned that ESPN Bet seems to be playing for the long term rather than making a short-lived splash, and he welcomed the potential for market growth brought by new players and innovations.

Robins stressed the importance of having the best product, citing it as a key factor in DraftKings’ ability to outperform in the market. He believes that a superior product leads to organic benefits in terms of customer acquisition and lifetime value. The CEO expressed confidence in DraftKings’ playbook, emphasizing that sticking to it will yield positive results regardless of competitive challenges.

Robins Unveils DraftKings’ Next Moves with Progressive Parlays, iGaming Success, and More

Looking ahead, DraftKings is set to launch progressive parlays in the coming weeks, offering sports bettors a chance to win consolation prizes even if all legs of their parlays do not hit. Robins sees this as a differentiated product that will meet customer demand.

On the iGaming front, Robins considers it a hidden gem for DraftKings, noting the company’s success in gaining market share, especially in the face of initial doubts about reaching close to 30%. He expressed enthusiasm about the untapped potential of iGaming, highlighting the company’s bullish stance and significant investments in the product.

Robins also briefly touched on the potential for international expansion and new product verticals in the longer term. While acknowledging these opportunities, he emphasized the current focus on the existing market and the upside within the United States, emphasizing the benefit of maintaining a singular focus:

“I think, we would be executing well anyway, but I have to say it is at least in part due to the fact that we are really focused on one geography and on winning there. And I think if you look at some of our competitors, they are not so or they are focused on other lines of business.”

In other recent news, DraftKings launched Pick6, a new peer-to-peer fantasy sports game available in six US states, including Maryland, Minnesota, Oklahoma, South Carolina, Tennessee, and Wisconsin.

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The Board of Directors of the Malta Gaming Authority (MGA) issued a statement to notify the general public that Carl Brincat, its Chief Executive Officer (CEO), will not be looking for a continuation of his existing contract, which will become invalid on January 25 next year.

Appreciation

The Board has expressed its gratitude to Dr Brincat, particularly for his outstanding leadership skills throughout his time as CEO. In this regard, Dr Ryan C. Pace, the chairman, said according to the official press release: “Carl has made extensive contributions to the Malta Gaming Authority and to the gaming industry in Malta and we are confident in, and very thankful for, the strong foundation he leaves behind as we continue to pursue the MGA’s strategic goals.” Additionally, Dr. Brincat said: “Leaving the MGA is a very hard decision to make. The past 9 years have been a rollercoaster of experiences which contributed to the person I am today, and it has been a privilege to lead the Authority for the past 3 years. Looking back, I am proud of the work that we have done together, and of the highly motivated team that surrounds me at the Authority. I look forward to continuing to deliver our commitments over my final few months, and have no doubt that my successor will find that the fantastic team at the MGA can help him or her continue to drive improvement further. I cannot wait to see what the future holds for the Authority.”

In terms of the individual who will succeed to the role of CEO and the responsibilities that come with it, the Board has a senior leadership succession plan planned specifically for this. On that note, it will officially send out a public call for applications for the aforementioned job. In addition, this entire planned process is intended to make sure an easy transition from Dr Brincat to the next CEO. However, the selected successor is expected to spend few weeks following Dr Brincat before officially starting his role on January, 26 next year.

Moreover, MGA stays devoted to reinforcing this essential sector in Malta and opening up the latest opportunities for excellence and innovation.

Sigma Europe’s Malta Week

From November 13 to November 17, Sigma Europe’s Malta Week 2023 festival will officially begin. During this festival, various global leaders will gather together for conference, convergence of expo and good old-fashioned networking. Additionally, the said festival will take place in the Mediterranean Maritime Hub (MMH), a bigger, more active location that is known for its industrial, raw and unconventional space compared to other venues.

Source: “Carl Brincat to hand over the reigns at the MGA”, Sigma World News, October 27, 2023

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The Malta Gaming Authority (MGA) announced that Carl Brincat, its current chief executive officer, will be departing from the regulatory body. In the meantime, the MGA will issue a public call to determine his successor.

According to the MGA, Brincat will not be seeking renewal of his current contract, which is set to expire on January 25, 2024. His yet-to-be-appointed successor is therefore set to step into the office on January 26, 2024.

As mentioned, the leadership succession plan will see the MGA issue a public call for applications. The MGA hopes to ensure a seamless transition of responsibilities from Brincat to his successor.

The MGA also added that prior to stepping into the office, the new CEO will spend several weeks shadowing Brincat.

Brincat: Leaving the MGA Was a “Very Hard Decision to Make”

In the meantime, the Maltese regulator’s board of directors thanked Brincat for his exceptional leadership and contributions. Ryan C. Pace, chairperson of the MGA, lauded Brincat as someone who has contributed a lot to the MGA and the Maltese gaming industry as a whole. Pace said that the MGA team is very thankful for the strong foundation left by Brincat, saying that they will allow the regulator to pursue its strategic goals.

Brincat also commented on his departure, saying that the decision to leave didn’t come easy.

Leaving the MGA is a very hard decision to make. The past 9 years have been a rollercoaster of experiences which contributed to the person I am today, and it has been a privilege to lead the Authority for the past 3 years.

Carl Brincat, outgoing CEO, MGA

Brincat added that he is very proud of the work that he and his team have done together. He praised the people he worked with for their passion and said that he is looking forward to working with them for a few more months.

Brincat also said that he is certain his successor will find the MGA team just as fantastic and will work with the rest of the MGA to drive further improvements. The outgoing CEO concluded that he will continue to follow the future of the MGA with interest.

On a final note, the MGA expressed its commitment to serving the Maltese gaming sector and “unlocking new opportunities for innovation and excellence.

In other news, the MGA just revoked the license of Arabmillionaire Limited.

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