888 CEO hunt ends, UK draws closer to a mandatory levy, ESPN BET reveals logo

Recent weeks have seen quite a few C-level changes in some of the biggest gambling companies with Patrik Hofbauer leaving Svenska Spel after five years on the job and 888 appointing Per Widerström to lead the company as its new Chief Executive Officer at a time of increased regulatory and operational headwinds reflected in the company’s third-quarter earnings call. Also, the UK is now closer to introducing a mandatory levy that is said to raise as much as £100m a year and contribute them to tackling problem gambling.

The week started with a recap of Patrik Hofbauer’s decision to leave Svenska Spel, a company he has worked for as the Chief Executive Officer for five years. He will be taking his final leave from the company on January 31, 2024, as he pursues other opportunities. The news about Hofbauer leaving was not the only big shift at the top of a gambling behemoth this week, as 888’s search for a CEO has been crowned with success.

Per Widerström, an iGaming and gambling industry veteran, has been appointed as the company’s new boss. Widerström welcomed the opportunity and said that he would forego a number of his NED roles in order to focus his full attention on 888 Holdings.

His decision could not have come at a better time as 888 has posted its third-quarter results, reporting a 10% drop in its overall revenue, driven by suppressed online results, slightly lagging performance in the United Kingdom in Ireland, and not least, the regulatory shifts that have ushered in stronger player protection measures.

ESPN BET has posted its new logo which presages the launch of the company’s sportsbook that is due in November. Although some details remain obscured, the PENN-ESPN sportsbook is now readying to launch, with ESPN promising that the resulting product will fully capture the broadcasting media and news giant’s ethos and ecosystem. ESPN is expected to have a bigger impact than PENN’s Barstool Sportsbook, but where it will roll out and how aggressively it will push in the sports betting landscape remains to be seen.

Another news about change in leadership came from SkyCity Entertainment’s corner with Michael Ahearne, the current CEO confirming his plans to leave at the end of March 2024. The company is currently in the process of looking for a replacement that may be promoted from within or by casting a broader net for seasoned executives outside the company.

BetComply has in the meantime appointed Daniel Brookes as the company’s interim CEO. Although his position is temporarily, Brookes is an experienced veteran who is expected to have an impact on the company’s short to mid-term growth.

Gordon Moody, a leading charity in the United Kingdom that focuses on helping people impacted by problem gambling, has appointed Monica Shafaq as its new CEO. Shafaq is particularly well-versed in people’s well-being and care, and she is now keen to continue the legacy of Matthew Hickey, the outgoing executive who has been able to drive significant results for the company.

The Industry Agog

Perhaps one of the biggest developments for the gambling industry (in the United Kingdom) this week was the rumor that a mandatory levy that would obligate companies to pay 1% of their revenue as contributions to help forward responsible gambling and treatment.

Although not officially confirmed from what Casino Guru News understands, this levy is closer to becoming a reality now than it has ever been. The expected contributions stand at £100m a year and they will be forwarded towards research, treatment, and prevention of gambling-related harm and problems.

This week, Casino Guru also made the news with the company launching its highly anticipated and useful Online Casino Complaints Handling Best Practices course designed to help businesses excel and better understand the unique challenges they face, but also raise the overall level of player safety in the industry.

Meanwhile, the Advertising Standards Authority has butted heads with Flutter Entertainment’s Sky Bet and Gaming over an advertisement that featured the image and likeness of Gary Neville. The add has been deemed irresponsible in a case that the company is now willing to contest as it has accused the regulator to use a flawed methodology to reach its conclusions.

Let Them Talk

We of course also caught up with a number of interesting individuals from the gambling industry. In his recent Opinion Piece for Casino Guru News, ZingBrain AI Chief Product Officer Oleg Smolerov talked at length about the power of personalization and how important it can be for the success of companies who operate in the iGaming landscape.

We also caught up with Ricardo Amper, CEO and founder of Incode Technologies, whose company addresses the challenging process of onboarding customers in an industry that is increasingly putting the focus on tighter AML and KYC verifications and checks.

Our team had the opportunity to similarly catch up with Martin Lycka and conduct our very first video interview. Lycka is the SVP for American Regulatory Affairs and Responsible Gambling at Entain and he had quite a few interesting things to say about responsible gambling, the challenges of sports betting legalization, and protecting athletes.

Image credit: Casino Guru News