Roger Withers, who has spent the last seven years in the role of non-executive chairman at Playtech and overseen some massive growth at the company, has announced that he plans to retire later this year. The retirement is expected to take place after the next Playtech board meeting which takes place in October.
His replacement in the role has already been announced as Alan Jackson who is currently a senior non-executive director at the company, having joined soon after Playtech’s IPO in 2006. An official Playtech statement on the retirement said: “Mr. Withers, whose seven year tenure commenced with the company’s Initial Public Offering in March 2006, will be retained as an advisor to the company using his extensive industry knowledge to advise on strategic initiatives in the gambling industry.”
Roger Withers himself also made a statement on his impending departure, noting his pride in taking the company from being virtually unknown and in the shadow of Microgaming to being one of the most important companies in the casino industry.
“I am delighted to have played a role in the development of this amazing company from its AIM admission to a top 150 UK Premium-listed company with nil debt and €1 billion of assets. It has been my privilege to serve Playtech and its shareholders over the last seven years. With the success of the business firmly established and set to continue, I leave Playtech financially robust, in good hands and well placed to continue to serve its licensees, shareholders, employees and other stakeholders. I am particularly pleased that Alan has agreed to become Chairman: neither I nor Playtech could ask for a better successor.”
While the impending departure of Withers marks something of a change for Playtech, the company has already outlined that some things are business as usual. Much of their future plans surround the veritable war chest acquired following the buyout of their stake in William Hill Online. Revenues rose from €153.8 million in the first half of 2012 to €176.8 million in the same period this year and this strong financial growth also contributes to their plans to solidify their position as one of the biggest developers in the industry.
While no specific plans for the cash have been announced, it is believed that the company is going to invest significantly in their mobile operations. The company has already acquired Pokerstrategy.com for €38.3 million although this represents just a tiny fraction of the total $800 million that they are believed to have on hand.
You can keep up on all of the latest developments at Playtech and elsewhere in the casino industry right here at Mr Gamez and if you fancy a spin on some of their fantastic slot games then you can do just that by checking out our online casino reviews for the very best that the company and their partners have to offer.