Directorate Change and Trading Update

RNS Number : 7310T

Playtech PLC

10 January 2017

 

Playtech plc

("Playtech" or the "Playtech Group")

 Directorate Change and Trading Update

Playtech (LSE: PTEC) announces a change to director responsibilities as well as a trading update to the end of the 2016 financial year.

Change of Chief Financial Officer

The Board and Ron Hoffman have agreed that Ron will move from his position as Chief Financial Officer to become full-time Chief Executive Officer of Playtech's Financials division and will step down from the Board immediately.

Ron joined Playtech in 2004 as one of its earliest recruits, and has played a key role in Playtech's corporate development ever since. Key milestones in which Ron has played a critical role include the company's listing on AIM in 2006 and the transition to the Main Market in 2012 as well as all of Playtech's significant M&A transactions. Ron has been instrumental in the growth of the business through its operations, financial planning and reporting with his track record, vast experience and expertise key factors in coming to the view that Ron is uniquely positioned to grow Playtech's Financials division, creating value for the benefit of all shareholders.  

Andrew Smith, currently Head of Investor Relations, succeeds Ron Hoffman as Playtech's Chief Financial Officer and will join the Board as an Executive Director with immediate effect. The move will provide a greater depth of management resource and focus on Playtech's Financials division following the acquisitions of Markets Limited and Consolidated Financial Holdings A/S.

Andrew brings a wealth of financial, capital markets and M&A experience to the Board and has been integral to Playtech's operational and strategic progress since joining the business in early 2015. Having qualified as a solicitor with Ashurst in 2001, Andrew moved into investment banking, first with ABN AMRO and then with Deutsche Bank, specialising in both the Technology and Leisure sectors.

Playtech is pleased to announce that James Newman will be joining the Company to replace Andrew as Head of Investor Relations. James is a capital markets communications specialist with over eight years' experience advising listed companies in investor and media relations.  James, a Masters Graduate in Economics and Politics, joins from Bell Pottinger where he has advised Playtech and other gaming and leisure sector companies for the last three years.

Trading update

Playtech is pleased to report that both the Gaming division and Financials division have enjoyed similar trends to those reported at the time of the Investor & Analyst Event on 9 November 2016. Accordingly, results for the full year to 31 December 2016 are expected to be in line with market expectations and the Board remains confident of further growth in 2017 and beyond.

Playtech is also pleased to announce that it has agreed an extension to its arrangements with the William Hill Group until the end of 2019.

Playtech will announce its full year results on Thursday 23 February 2017.

Alan Jackson, Chairman of Playtech plc, said:

"I am delighted to welcome Andrew as Chief Financial Officer of Playtech whilst at the same time thanking Ron for the skill and dedication he has brought to the role over the past four years.

"Andrew is the natural successor to Ron, having played an increasingly important part in Playtech's financial, operational and strategic performance over the past few years, becoming a key member of Playtech's management team as well as an important contributor at Board level. Andrew's breadth of experience will be invaluable over the coming years and I wish him every success.

"I would also like to take this opportunity, both personally and on behalf of the Board, to acknowledge the contribution Ron makes to Playtech and specifically whilst having acted as both Chief Financial Officer of Playtech and as Chief Executive Officer of Playtech's Financials division. Ron is a tremendous asset to Playtech. He has established a first class finance function, which Andrew will inherit, and I am sure Ron will continue to thrive within the Group for many years to come as he drives the Financials division forwards."

Pursuant to its obligations under the listing rules of the UK Listing Authority, Playtech notifies that Andrew Smith does not currently hold and has not previously held any directorships of any publicly quoted companies. There are no details requiring disclosure in respect of Andrew Smith under listing rule 9.6.13 (2) to (6) of the UK Listing Authority.

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

- Ends -

For further information, contact:

Playtech plc                                                     [phone]

Mor Weizer, Chief Executive Officer

Andrew Smith, Chief Financial Officer

c/o Bell Pottinger

Bell Pottinger                                                  [phone]

David Rydell / Olly Scott  

About Playtech

Playtech is a market leader in the gambling and financial trading industries. Founded in 1999 and listed on the Main Market of the London Stock Exchange (LEI code: 21380068TTB6Z9ZEU548), Playtech has more than 5,000 employees in 13 countries.

Playtech is the gambling industry's leading software and services supplier with more than 130 licensees globally, including many of the world's leading regulated online, retail and mobile operators, land-based casino groups, government sponsored entities such as lotteries, and new entrants opening operations in newly-regulated markets. Its business intelligence-driven gambling software offering includes casino, live casino, bingo, poker and sports betting.

It is the pioneer of omni-channel gambling which, through Playtech ONE, offers operators and their customers, a seamless, anytime, anywhere experience across any product, any channel (online, mobile, retail) and any device using a single account and single wallet. It provides marketing expertise, sophisticated CRM solutions and other services for operators seeking a full turnkey solution.

Playtech's Financials division operates both on a B2C and B2B basis. Its B2C focused offering is an established and growing online CFDs broker, operating the brand markets.com. Its B2B offering includes the division's proprietary trading platform, CRM and back-office systems, as well as its liquidity technology platform which provides retail brokers with multi-asset execution, prime brokerage services, liquidity and complementary risk management tools.

www.playtech.com

 

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