Intertain continues strategic review with management changes

Intertain Group has announced that as part of an ongoing strategic review of the company, it has made a number of key changes to its senior management team, including the appointment of a new chairman and chief executive.

Neil Goulden will serve as the new chairman of the board, while Andrew McIver is to take on the role of chief executive.

Goulden has worked in the gaming and online gambling industry for 25 years and has held various senior roles with the likes of Ladbrokes and Gala Coral, including serving as chief operating officer, chief executive and chairman of the latter from 200 to 2014.

McIver joins Intertain having held the role of chief executive at Sportingbet for the past six years, and replaces John Kennedy FitzGerald, who has stepped down as chief executive and a director with immediate effect.

David Danziger, director and member of the Special Committee, which has been leading the strategic review, and former chairman of the board, said: “Neil and Andy are world-class gaming executives and they bring outstanding leadership to our excellent businesses.

“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.”

Intertain is also on the lookout for a new chief financial officer after Keith Laslop began his new role as president of Intertain Bahamas.

Laslop will continue in the position of chief financial officer until a replacement is found.

Meanwhile, the Special Committee will continue its process in connection with the third-party acquisition of all of the shares of Intertain, with discussions due to take place despite the outcome of the UK referendum on EU membership.

Since the initial round of offers were received by the Special Committee in May, Intertain has worked to complete due diligence related to the process, holding a series of meetings with members of management and advisors of the company to discuss due diligence matters, the business of Intertain and to explore potential integration plans have been held.

“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,” Danziger said.

“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.”

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