Provider of sports betting technology and software SBTech confirmed today the departure of CEO Itai Zak and announced the appointment of Richard Carter as his permanent replacement.
Mr. Carter has previously been Director of Research at Deutsche Bank. During his seven-year tenure at the financial services company, he was responsible for analyzing gambling industry trends. Between 2003 and 2009, Mr. Carter was a key member of the Leisure and Gaming team of Stockbroker Numis Securities. He was at the forefront of a number of major online gambling companies, with 32Red, 888, and Empire Online being only few of those.
Commenting on the latest announcement, SBTech Chairman John Anderson said that they consider it a great honor to have Mr. Carter as member of their team. Mr. Anderson added that having strengthened its position as a market leader, SBTech’s new CEO will take the company to the next level and will help it focus on reinforcing the “impressive momentum” it has gained over the past several years.
On his appointment, Mr. Carter commented that it is delightful to be joining a team of “exceptionally talented people” who work at a company that has a clearly established strategy to become the industry’s “most trusted and innovative” provider of sports betting solutions. He further noted that he looks forward to taking on his new post and lead SBTech as it grows and delivers to the expectations of its customers, employees, and shareholders.
Mr. Carter is replacing former CEO Itai Zak. Mr. Zak has assumed his post in April 2011 and during his tenure, the company has managed to expand its operations tenfold, thus becoming a major leading gambling technology provider. In addition, he introduced a corporate growth strategy that led the company to inking partnership agreements with major gambling operators and opening corporate offices in Bulgaria, Gibraltar, Israel, and Ukraine.
SBTech was established back in 2007. Since then, the company has been offering various both fully managed and turnkey online, offline, and mobile solutions for the interactive sports betting industry. Most recently, it announced that it has extended its partnership with online gambling operator ComeOn!. Under the terms of their agreement, the provider would supply its Chameleon360 platform to the gaming company, together with its platform for mobile devices and tablets.
