Earlier today, it was announced that Jaymin Patel, the current chief executive officer and president of GTECH Americas, is to step down from his position as of March 27. At present, Mr. Patel is also a member of the board of parent company GTECH S.p.A.
A spokesperson of the company stated that Mr. Patel has decided to leave so as to be able to pursue another business opportunity.
The executive shared in a statement on the matter that he considered it a great privilege to be part of the managing team of the gaming operator and to be able to help it establish itself on the gaming market and raise sufficient funds for socially useful causes.
Mr. Patel also pointed out that despite the fact that he is planning to engage in a different undertaking, he will still remain a shareholder in GTECH. He said that he is convinced the company has a bright future and the best is yet to come.
Mr. Patel joined GTECH back in 1994. Currently, he holds a total of 193,070 of its shares, which accounts for about 0.1% of the company’s entire share capital.
Marco Sala, currently taking the position of a chief executive officer of the parent company, pointed out that he had always admired Mr. Patel’s professionalism and sought his guidance. Mr. Sala also said that his colleague’s experience contributed significantly to the company’s consolidation on the ever-changing lottery and gaming market as a whole.
GTECH’s CEO did not miss to mention that he believes Mr. Patel will achieve great success in his new undertaking.
Soon after it became clear that Mr. Patel is to leave the lottery operator, it was announced that he was appointed as the new president and chief executive officer of the so-called Brightstar Corp., a U.S.-based private company, which is known to be dealing with the production and distribution of mobile phones and wireless equipment. He will take over his new position on March 30.
At present, GTECH is in the process of purchasing International Game Technology, a U.S.-based manufacturer of slot machines. On February 10, the latter company’s shareholders gave their nod to the deal, which was estimated at US$6.4 billion.
GTECH was established back in 1990. It is one of the world’s largest lottery and gaming operators, and the present holder of the Italian National Lottery. It also manages the national lotteries of a great number of other countries around the world. Its product offering includes other gaming solutions as well.
