Bally’s brings in Lavan as new financial chief

Lavan will replace Steve Capp, who is leaving the business to pursue other interests and opportunities. Capp will continue to support Bally’s through the end of April.

Subject to customary regulatory approvals, Lavan will move into the new role having served as senior vice-president of finance and investor relations at Bally’s since May 2021.

Prior to this, he spent over three years as CFO at Turning Point Brands and also had a spell with General Wireless Operations, serving on its board for over three and a half years and just over one year as CFO.

Lavan also spent time as an investment analyst for Standard General and portfolio manager at J Goldman & Co.

“I look forward to working with Lee and the team to continue our transformation into a global omnichannel gaming leader,” Lavan said.

Bally’s chief executive Lee Fenton, added: “Bobby’s track record leading successful M&A and integration initiatives will be invaluable in helping us grow the business and accomplish our long-term financial goals. 

“I am excited to work with Bobby on the Gamesys integration, streamlining our financial reporting and executing our broader financial strategy to create further shareholder value.”

Last month Bally’s reported $1.32bn in revenue for 2021, representing a 256.8% increase from the previous year thanks in part to acquisitions, but the business slipped to a $115.3m net loss.

Bally’s is also currently subject to a takeover by Standard General, which made a $2bn acquisition proposal to acquire the operator at the start of the year.