Playtech makes changes to its board structure

May 28, 2024 7:27 PM
Photo: CDC Gaming Reports
  • Steve Chen — Special to CDC Gaming Reports
May 28, 2024 7:27 PM
  • Steve Chen — Special to CDC Gaming Reports
  • Europe
  • Isle of Man

Gaming software developer Playtech has announced several changes to its board, including the partial merger of the audit committee with the existing risk and compliance committee.

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This merger will form the new audit and risk committee, which will be chaired by Ian Penrose, a senior independent director who has been on the Playtech board since September 2018. Penrose brings more than 25 years of leadership experience in the global gaming, sporting and technology industries.

Joining Penrose as ordinary members are non-executive directors Samy Reeb and Linda Marston-Weston. These changes will take effect on June 1, with no other Playtech committees being affected by the reorganization.

Additionally, the compliance feature of Playtech’s existing risk and compliance committee will soon be integrated into a new committee, which will be called the regulatory and compliance committee. Reeb will chair this committee, supported by Penrose and Anna Massion as ordinary members, the latter of which is another non-executive director at Playtech.

This announcement follows Playtech’s recent trading update for the first four months of 2024, where the company reported “solid” trading performance in its business-to-business and business-to-consumer segments despite revenue effects from customer-friendly sporting results.

For B2C, the company reported advancements in Italy through its Snaitech brand, which Playtech explained that it performed well on an underlying basis. The company also documented wagers displayed strength across online and retail betting segments.

On the B2B front, Playtech highlighted revenue increases in regulated gambling markets, particularly in the United States and Canada. Additionally, the company stated that it carries on benefiting from tighter cost control alongside “rapid expansion” in the live gaming industry.