Former Sportingbet chief Andrew McIver named Intertain CEO
Firm also names ex-Gala Coral chief Neil Goulden as chairman as firm mulls sale and relocation to London
Former Sportingbet CEO, Andrew McIver, has been named the new CEO of Intertain as part of a major company reorganisation including a new chairman and plans to relocate to the UK.
McIver will be joined at Intertain by Neil Goulden, who has been appointed chairman after a 14-year stint at Gala Coral between 2000 and 2014, where he was COO, CEO and later chairman.
“Neil and Andy are world-class gaming executives and they bring outstanding leadership to our excellent businesses,” said David Danziger, former chairman of the Board and director of the special committee looking into Intertain’s future.
“They both have the strategic vision and demonstrated operational excellence in the gaming industry that the Board was looking for to help us to unlock the additional value that we believe is embedded in Intertain’s core business assets.”
McIver has 14 years’ experience in the gaming sector, most recently serving as CEO of Sportingbet from 2006 to 2013 and as CFO from 2001 to 2006.
Last June McIver told EGR he was exploring a return to the egaming industry after turning down the chance to succeed Michael Carlton as BetVictor CEO in 2014.
McIver said he would be attracted to operators with both “chemistry” and “potential” and specifically a European brand he described as being “undermanaged or undervalued over the last four or five years”.
McIver replaces John FitzGerald, who stepped down from his role in February ahead of the appointment of a special committee.
The firm also told investors today it would provide an update on its future as a business by the end of July, with options including a sale to a third-party as well as a relocation to London with a listing on the main market of the London Stock Exchange.
“Our ongoing discussions reflect a recognition in the market of the value and prospects of Intertain’s businesses and the power of potentially combining them with other market-leading gaming assets,” added Danzinger.
“Similarly, the Strategic Review and the feedback received from shareholders, the market and other stakeholders have highlighted the potential of a greater exposure to European capital markets to help achieve a fuller and more appropriate valuation of Intertain’s businesses if Intertain continues to operate on a standalone basis.”
The firm described the UK as its “natural home” with the majority of its revenues now derived from its UK-facing Jackpotjoy business, which it acquired from Gamesys in 2015.