The global leader in digital payments and financial technology, MiFinity, announced a new senior-level appointment Tuesday. The company revealed that it hired Jim Purcell, an expert with significant financial experience, to the role of chief operating officer (COO). Becoming a part of MiFinity, he brings extensive experience after holding senior-level roles and overseeing the growth of both public and private companies.

As COO, Purcell is expected to propel the company’s expansion and contribute toward its success and growth on a global scale. He brings unique knowledge and a wide range of skills, making him crucial to MiFinity’s expansion. The appointment of Purcell comes at a time when the company plans to keep its accumulated positive momentum, engaging with new partners across the globe and offering best-in-class payment solutions to a market that continues to grow.

Strengthening its C-suite, MiFinity will continue its expansion into the dynamic PayTech vertical, supported by the knowledge and strategic guidance provided by Purcell. Undoubtedly, the strategic insights and experience he brings will make him an important asset for the company and its future expansion.

The New COO Brings Unique Insights and Experience

Overall, Purcell brings more than 25 years of experience and knowledge within the software and technology verticals. Before joining MiFinity, he was a part of the publicly traded online gambling operator, EBET. During his tenure with the company, he held the role of chief financial officer, overseeing strategies and important aspects of the company’s financial operations. Under Purcell’s guidance, EBET was able to significantly scale up its operations from a start-up to a company with more than $60 million in revenue.

Additionally, he held important roles for globally recognized companies, including Cryptologic Ltd, Viatel and Ocuco. Throughout his career, Purcell was able to accumulate unique skills and knowledge that are undoubtedly going to help him with the new COO role at MiFinity.

“Business is a competitive space, and the difference between who succeeds and who perishes is a leader with a strong vision. We have no doubts that Jim is such a leader.“

Paul Kavanagh, CEO at MiFinity

Paul Kavanagh, MiFinity’s CEO, was delighted to see Purcell join the company’s C-suite. He spoke about the competitive business vertical, acknowledging the leadership qualities of Purcell. Finally, Kavanagh explained that the appointment of the new COO represents an important step in MiFinity’s plan for future growth.

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The provider of the next-generation iGaming platforms, powering operators across the globe, Pragmatic Solutions, announced a new senior-level appointment. The company confirmed Monday it selected Michael Boylan, a seasoned iGaming executive with solid experience, for the role of chief operating officer (COO). Strengthening its C-suite, Pragmatic Solutions prepares for further growth and expansion on a global scale.

Before joining the company as its new COO, Boylan held an important role at LadbrokesCoral where he served as director of service operations. His professional background includes a senior-level role with the globally-recognized gaming company, Entain PLC. Boylan was also a part of DAZN Bet where he served as IT director.

Overall, he brings nearly two decades of experience and knowledge within the online gambling industry. As COO, Boylan will help Pragmatic Solutions expand its client portfolio and deliver its innovative technology and solutions to new markets across the globe.

Boylan, Thrilled to Join Pragmatic Solutions

Sharing his excitement, Boylan said that it is thrilling to join Pragmatic Solutions after holding different senior-level roles within the business-to-customer sector for the last two decades. Finally, he pointed out: “I’ve been a licensee of their products for over a year now and can attest to the commitment and energy brought by the team to deliver a world-class service and product to clients.”

“After circa 18-plus years on the B2C side of business it is with genuine excitement that I’m making a move into B2B with platform market-leader Pragmatic Solutions.“

Michael Boylan, COO at Pragmatic Solutions

Ashley Lang, Pragmatic’s CEO, added that the company is delighted to see Boylan become a part of its senior-level team. He spoke about the team of experts at Pragmatic, acknowledging that they help deliver innovative and smart technology.

“We are very excited to have Michael join our team.“

Ashley Lang, CEO at Pragmatic Solutions

Currently, Pragmatic offers a flexible, scalable and modular Player Account Management (PAM) platform that stands out from competitors within the iGaming sector. Leveraging an API-based approach, the PAM solution caters to operators offering their services in different jurisdictions. The PAM platform elevates the players’ experiences while at the same time helping operators handle risks and comply with the established regulations.

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The leading gaming and entertainment company, The Rank Group Plc, released its latest preliminary results revealing details regarding its performance for the 12 months ended June 30, 2023. The recent financial report emerged Thursday and reveals that while net gaming revenue for the period increased, a decrease in the operating profit was observed.

Overall, Rank posted a group underlying like-for-like (LFL) net gaming revenue (NGR) of £679.7 million ($866.5 million). This result, when compared to the corresponding period for 2021/2022, when NGR halted at £633.2 million ($807.3 million), represented an increase of 7%.

While NGR in 2022/2023 increased based on the preliminary results, Rank’s underlying LFL operating profit marked a decrease. The company revealed that underlying LFL operating profit for the 12 months ended June 30, 2023, halted at £20.3 million ($25.9 million). This result, marked a 52% year-over-year decrease when compared to the £42.5 million ($54.2 million) result from 2021/2022. Although Rank acknowledged that this result marked a decrease when compared to the prior period, it said that the latest figure was “in line with the upgraded guidance provided in April 2023.”

The Company Remains Optimistic, despite the Difficult Operating Environment

John O’Reilly, The Rank’s chief executive, acknowledged that despite the challenging environment in the last few years, the company has seen an uptick in the visitation of its Mecca and Grosvenor venues. He said that the figures from the second half of the trading period showed an uptick in business volumes.

O’Reilly spoke about the difficulties high wage inflation, increased energy costs and tightening of regulations brought for the company in the UK. However, he noted that those negative effects of the operating environment are fading away, which leaves Rank optimistic.

“However, energy costs have stabilized, inflation appears to now be easing, customers continue to slowly return to both our Grosvenor and our Mecca venues and we now expect to deliver good levels of revenue and profit growth.“

John O’Reilly, chief executive of The Rank Group Plc

Further details released by Rank reveal that its Digital underlying NGR for the recent trading period hit £202.9 million ($258.6 million), up by 10% when compared to the £183.8 million ($234.3 million) result from the 2021/2022 period.

Similar growth was observed for the company’s Venues underlying NGR. Overall, Rank’s Venues posted £476.8 million ($607.8 million) in underlying LFL NGR this year. Comparing this result year-over-year to the £449.4 million ($572.8 million) reported for the 2021/2022 period shows that this year, an increase of 6% was observed.

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