MANAGEMENT MOVES AT CANADIAN ONLINE GAMBLING GROUP
Two well-known names join the board of directors.
The Canadian online gambling group Intertain has announced that two industry veterans – Neil Goulden and Andrew McIver have joined the top management as chairman of the board and chief executive officer respectively.
McIver replaces former CEO John Fitzgerald Kennedy who has stepped down, along with director Brent Choi.
Goulden has many years of top management experience in organisations such as Ladbrokes and the Gala Coral group, and was most recently the chair of the Responsible Gambling Trust. He will steer the board in the critical strategic review the group has undertaken.
“Intertain is a company that I think continues to be undervalued, and the Strategic Review has identified potential alternatives to realize that value for the long-term benefit of Intertain, its shareholders and its stakeholders," Goulden said in a statement.
McIver was CEO at Sportingbet plc for over six years, having previously served as chief financial officer for the company for many years. Commenting on his new appointment at Intertain he said that the company has "a strong set of core assets" and that he looked forward to taking the group into its next stage of development.
David Danziger, a member of the Intertain Special Committee and former chairman of the board who is stepping aside to be replaced by Goulden, will remain as a director of the company, along with existing directors John Fielding, Paul Pathak, Jim Ryan and Noel Hayden.
The Special Committee was formed to evaluate the possible sale of Intertain and has reportedly received several offers on which due diligence is being conducted.
“Our ongoing discussions reflect a recognition in the market of the value and prospects of Intertains businesses and the power of potentially combining them with other market-leading gaming assets,” Danziger said in a statement.
“Similarly, the Strategic Review and the feedback received from shareholders, the market and other stakeholders have highlighted the potential of a greater exposure to European capital markets to help achieve a fuller and more appropriate valuation of Intertains businesses if Intertain continues to operate on a standalone basis.”