Tipico Co. Ltd., a Malta-based operator with a particular focus on the provision of sports betting options to the German market, announced the appointment of Joachim Baca as its new Chief Executive Officer. Mr. Baca will take the company’s reins on July 18, 2016, replacing its current CEO Jan Bolz.
Prior to joining Tipico, Mr. Baca had served as Chief Operating Officer of Gibraltar-based gambling operator bwin.party digital entertainment. The gambling company has recently been acquired by B2B and B2C online operator GVC Holdings and is now part of an enlarged group specializing in the provision of online gaming options.
Being a long-standing COO at bwin.party, Mr. Baca created an impression of an official who has been implementing a customer-centrered approach. During his tenure, the company registered growth in its sports betting offering and introduced important innovations, Tipico pointed out in a statement about its latest key appointment.
As mentioned above, Mr. Baca is to replace Jan Bolz who has taken the CEO post for the past five years. Mr. Bolz has been said to be leaving the company in mutual consent.
Commenting on joining the sports betting operator, Mr. Baca said that Tipico has a “remarkable success story” and that it has managed to establish itself as the leader in the German market within the span of a single decade. The newly appointed CEO said that he is looking forward to working with the company’s team and owners, to enhance its current success, and to lead it to the next stage of its growth.
With Mr. Baca at the helm, Tipico is planning to expand its existing product offering and to strengthen its position and reach.
Earlier this year, it was announced that CVC Capital Partners and funds advised by it would acquire a majority stake in the gambling operator after founders had put it up four sale. Despite being purchased by the private equity firm, founders would still be shareholders in Tipico.
The transaction is yet to be completed as it should be reviewed by anti-trust authorities. The deal is likely to be closed sometime in the third quarter of the year.
