Jackpotjoy hopes to build on 2017 success with managerial shuffle

Jackpotjoy hopes to build on 2017 success with managerial shuffle

Tuesday, October 24, 2017 Posted by Craig Davies
Simon Wykes brought on board as Andy McIver departs

Jackpoyjoy has announced management restructuring following months of consultations.

Simon Wykes has been appointed group managing director and will take up his new role from 1 November, with current chairman Neil Goulden to be made executive chairman.

Andy McIver, current chief executive officer, is to leave the company, but is to stay on until 31 January ‘in order to ensure a smooth transition of duties to the new members of [the] executive team.’

The changes come after the board decided ‘further operational expertise is needed to ensure the company is best placed to maximise future growth prospects through its core business segments'.

Speaking about his new role, Wykes said: “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 news follows a successful Q2 for the online bingo operator, with ‘robust revenue growth’ expected across 2017.

Speaking of the Q2 results, McIver said Jackpotjoy "demonstrated an impressive quarterly performance across all brands, with revenue growth of 18% and adjusted EBITDA growth of 35%, both of which were an acceleration from the growth rate seen in quarter 1. So we have been building momentum over the 6 months".

The company also revealed their strong trading from H1 has continued into Q3, the results of which are due to announced on November 14, with management ‘confident of meeting the upper end of market expectations for FY17'.

Totally Gaming says: Continued growth has been reported throughout 2017, with expectations also high for H2.  It will be interesting to see how these managerial changes/restructures impact the company, and if a further spike will be reported going forward.

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