Bede Gaming co-founders team up to launch new German online operator
Joe Saumarez-Smith, Michael Brady and Adam Joseph partner on Gauselmann-backed online gaming venture
Former Bede Gaming stalwarts Michael Brady and Joe Saumarez-Smith have established a new online gambling venture targeting the German market in tandem with ex-Rank Group operations director Adam Joseph.
The new joint venture, called Eyas Gaming, is backed by Germany-based Gauselmann Group, which acquired Bede Gaming in March 2020.
The JV aims to initially launch in the German market once regulated operations begin in July 2021, with the business already targeting a German online gaming licence.
Eyas Gaming is headquartered in Malta and is currently applying for a licence through the Malta Gaming Authority (MGA). It will use the Bede Gaming platform for all online gambling operations.
Former Bede Gaming chairman and co-founder Saumarez-Smith has been confirmed as the new chairman of Eyas Gaming, having previously served as a non-executive director for the British Horseracing Authority (BHA) for the last five years.
Saumarez-Smith will be joined by Bede Gaming founder Brady, who will serve as the operator’s inaugural CEO.
Saumarez-Smith and Brady have a history of building online gambling operators from the ground up, having previously teamed up on the Intellectual Property & Software Ltd business, which was sold to LeoVegas for £65m in February 2018.
Rounding off the initial executive appointments is ex-Rank Group product and operations director Joseph, who is to become Eyas Gaming’s first COO.
Joseph previously spent five years as head of gaming UK at Betfair before becoming global head of casino for Bodog Nation in 2013, before joining Rank.
“The operational experience of our partners in conjunction with our technological platform, as well as our renowned Merkur games, will enable us to successfully establish online offerings in Germany and other regulated markets,” Gauselmann Group founder and CEO Paul Gauselmann said.
Germany’s long-awaited regulated online casino market is potentially one of the most lucrative new markets in Europe as reports suggest it could be worth as much as €5bn (£4.5bn) by 2024.
Many operators are eyeing up Germany after authorities rubberstamped a tolerance regime, where previously illegal online casino operators would be required to switch off online casino operations in the market from 15 October to qualify for a licence.
“The regulation of the German market is a very exciting time and a huge opportunity for us,” Saumarez-Smith said.
“The proposed rules for the German market will present some big challenges for all operators but we think that we will be able to build a market-leading product with Merkur that is specific to the German market and the new regulatory regime,” he added.