London-based SBTech, a leading sports betting and gaming technology supplier, has appointed former Scientific Games CEO and Vice Chairman Gavin Isaacs as its new non-executive chairman.
Isaacs, who joined SBTech last week, will use his 20 years of gaming experience across a series of senior management positions to further grow the company’s rapidly expanding U.S. presence. Since the market opened in mid-2018, SBTech has completed and gone live with several partnership agreements with leading casinos in regulated states including New Jersey and Mississippi.
Isaacs spent four years as CEO and board member of Scientific Games and was responsible for championing game-changing mergers and acquisitions and growing the global lottery and gaming supplier from $1.3 billion to $2.9 billion revenues in just two years, before moving to the position of vice chairman of the board.
“I was approached by a number of companies since leaving Scientific Games,” Isaacs said. “However, I chose to join SBTech due to its superior technology, high standards across every discipline, entrepreneurial approach and incredible ambition and potential to grow further across a wide variety of regulated markets including the U.S., where I am based and have an extensive network, knowledge and experience.
“The business has already made significant inroads into the newly regulated U.S. sports betting market, and I am extremely excited to be able to help and advise the senior management team to expand that even further across 2019 and beyond.”
Isaacs, a qualified lawyer, has a proven track record of successfully leading and establishing companies on strong growth trajectories. Prior to joining Scientific Games in 2014, he was CEO of SHFL Entertainment, where he grew the company to record revenues, globally expanded its slot business, and created a series of commercial opportunities in specialty table-game brands both in land-based casinos and online.
“We’re thrilled that someone of Gavin’s caliber, credibility and experience has chosen to join SBTech. This is a huge coup for the business,” said Richard Carter, CEO of SBTech. “Gavin’s two decades of successfully leading, transforming and acquiring some of the biggest businesses in the gaming sector will be a massive advantage for us, particularly in the U.S., where we have already partnered and gone live with several large brands across multiple states and where there are many more opportunities to grow.”
Isaac also spent five years as COO and executive vice president of the former Bally Technologies, eventually leading the negotiations to buy his former employer while at Scientific Games in November 2013 for $1.3 billion, a 37 percent premium in share price and at sector-high multiple. Prior to joining Bally, Isaacs spent seven years with Aristocrat Technologies in several roles including president, managing director and marketing and business development in Las Vegas, London and Sydney.
