Jackpotjoy CEO McIver to exit amid management reshuffle

Jackpotjoy has announced that Andy McIver is to step down as chief executive after the online bingo-led operator opted to put in place a new management structure.

In a statement confirming the move, Jackpotjoy said after “several months of careful consideration and in consultation”, it had come to an agreement with McIver that “further operational expertise is needed to ensure the company is best placed to maximise future growth prospects through its core business segment”.

As a result, Jackpotjoy has unveiled a new management structure, with current chairman Neil Goulden to take on the role of executive chairman and assume responsibility for leading both the development and execution of the firm’s long-term strategy.

Meanwhile, Simon Wykes is to become group managing director, with the main task of working in the company’s global markets with senior management teams across the firm’s three business segments: Jackpotjoy, Vera&John, and Mandalay.

Wykes, who recently concluded an external consultancy role at Ladbrokes Coral, previously served as chief executive of Gala Leisure and managing director at the Gala Coral Group.

In addition, Wykes spent four years as managing director of Rank Group and is currently a non-executive director for both Leisure Electronics Ltd and Wexel Gaming.

“I am thrilled by this new challenge at Jackpotjoy 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,” Wykes said.

As part of the terms of McIver’s departure, he will remain with Jackpotjoy until the end of January 2018 to help ensure a smooth transition of duties to the new members of the executive team.

Speaking about the management reshuffle, chairman 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.”

Jackpotjoy also used the announcement to state that “strong trading” from the first half of the year has continued into the third quarter, and management is confident of meeting the upper end of market expectations for the full year.

Jackpotjoy intends to release its third-quarter results on November 14.

Related article: Jackpotjoy cuts losses as key financials rise in Q2