LONDON, October 16, 2017 /PRNewswire/ --
This announcement contains inside information.
Jackpotjoy plc (the "Company") (LSE: JPJ), the largest online bingo-led operator in the world, announces that Andy McIver is to step down from his role as Chief Executive Officer, having completed the successful listing of Jackpotjoy plc on the London Stock Exchange (the "Listing") earlier this year.
As a part of the Company's continuing strategy to strengthen the group's operational focus, which included the recent appointments of our highly experienced divisional managing directors, the Board has decided, after several months of careful consideration and in consultation and agreement with Andy, that further operational expertise is needed to ensure the Company is best placed to maximise future growth prospects through its core business segments.
Under the Company's new management structure, Neil Goulden, currently Chairman of the Company, will become Executive Chairman, responsible for leading the development and execution of the Company's long term strategy.
The Board has appointed experienced gaming executive, Simon Wykes, as Group Managing Director to provide additional operational expertise. His main role will be working in the Company's global markets with the senior management teams across each of the Company's three business segments - Jackpotjoy, Vera&John, and Mandalay; and he will also join the Board of the Company. Both appointments will become effective from 1 November 2017.
Simon has just completed an external consultancy role with Ladbrokes Coral on their merger integration plans. He was previously Chief Executive Officer at Gala Leisure and Managing Director at Gala Coral Group, where he oversaw the execution of a successful strategic turnaround plan of its bingo division. He also served as Managing Director of Rank Group for over four years. He is also a Non-Executive Director for both Leisure Electronics Ltd and Wexel Gaming.
Andy will remain with the Company until 31 January 2018, to ensure a smooth transition of duties to the new members of executive team.
Commenting on Simon's appointment, Jackpotjoy plc Chairman Neil Goulden said: "Simon is a highly-experienced executive with an extensive knowledge of the bingo sector and considerable expertise in managing high-volume consumer businesses. His experience in the digitalisation of gaming businesses will be invaluable in achieving synergies across our main business segments and to drive the future growth of the group.
"On behalf of the Board, I would also like to thank Andy for the commitment, leadership and integrity he showed during his tenure, which has seen Jackpotjoy plc cement itself as the world's largest online bingo-led company following its successful listing on the London Stock Exchange. We wish him well with his future endeavours."
Simon Wykes added: "I am thrilled by this new challenge at Jackpotjoy plc and look forward to bringing my experience from leading digital gaming businesses to the Company as well as significant operational experience to market leading brands."
The strong trading from H1 has continued into Q3 and Management are confident of meeting the upper end of market expectations for FY17[1]. The Company is due to announce Q3 results on Tuesday 14 November 2017.
The person who arranged for the release of this announcement on behalf of the Company was Dan Talisman, Chief Legal Counsel & Company Secretary.
There are no disclosures to be made pursuant to Listing Rule 9.6.13.
About Jackpotjoy plc
Jackpotjoy plc is the parent company of an online gaming group that provides entertainment to a global consumer base through its subsidiaries. Jackpotjoy plc currently offers bingo and casino games to its customers through its subsidiaries using the Jackpotjoy (http://www.jackpotjoy.com), Starspins (http://www.starspins.com), Botemania (http://www.botemania.es), Vera&John (http://www.verajohn.com), Costa (http://www.costabingo.com) and InterCasino (http://www.intercasino.com) brands. For more information about Jackpotjoy plc, please visit http://www.jackpotjoyplc.com.
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[1] The range of normalised EBITDA estimates (pre share-based payments) in the market for FY17 is £104.0m to £106.7m
Jackpotjoy plc: Jason Holden, Director of Investor Relations, +44(0)7812-142118, [email protected]; Amanda Brewer, Vice President of Corporate Communications, +1-416-720-8150, [email protected]; Finsbury: James Leviton, Andy Parnis, +44(0)207-251-3801, [email protected]
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