IGT

Massimiliano Chiara has been appointed executive vice president and chief financial officer of International Game Technology that is to be effective from April 6, 2020.

Furthermore, Chiara has also been appointed to IGT’s board of directors effective as of the first IGT board meeting after April 6, 2020, or as of the 2020 AGM, if earlier and subject to shareholder vote.

He joins the firm from CNH Industrial NV, where he most recently served as CFO and chief sustainability officer, as well as also holding various financial and operational roles at Fiat Chrysler.

“We are excited to have Max join the IGT team, both as a member of my senior leadership team and as a board member,” stated Marco Sala, IGT CEO. “His broad and deep background in all facets of global finance and operations, in addition to his high standards of excellence, will be tremendous assets to our organisation.” 

Furthermore, the company has also appointed Beatrice Bassey as an independent director effective March 20, 2020. Bassey is currently group general counsel, chief compliance officer and corporate secretary of Atlas Mara. 

W2

Regulatory compliance solutions provider W2 has announced the appointment of Peter Murray to head up their global sales teams, as the industry enters “a challenging period for regulated markets”.

Murray, who was previously head of gaming at GBG and director at Alexem Services, the identity consultancy, comes in to support and drive business across core regulated markets with a focus on the gambling and financial services sectors.

Warren Russell, W2 CEO, explained: “Peter’s experience with operators, regulators and industry stakeholders globally will be invaluable to us as we look to ensure the services we provide evolve to meet the needs of our clients in a rapidly changing world. 

“Identity is no longer static and time stamped but dynamic and ever changing and I believe Peter will provide not only guidance and support as our teams collaborate on our existing solutions, but also help deliver on our ambitious product roadmap and growth plans.

Sportech

International betting technology firm Sportech has revealed that latest strengthening of its ranks after appointing Ben Warn to its board as a non-executive director.

Warn boasts more than 20 years’ experience in senior positions in the betting and gaming industries including UKbetting PLC, Sky Betting and Gaming, and the Perform Group, where he was chief executive of the gaming division. He will join the board on June 1, 2020.

Giles Vardey, non-executive chairman of Sportech, said: “Given the many challenges all businesses in our sector are facing, we are pleased to have Ben Warn joining our board with his broad gambling experience and his online product development and technology expertise.”

William Hill

William Hill has confirmed that Adrian Marsh, the group finance director of DS Smith has informed the company that, given the current unprecedented circumstances, he intends to remain as DS Smith’s GFD and will not now be joining William Hill. 

Ruth Prior, who is currently serving out her notice period, will continue in her role as William Hill’s chief financial officer. The Company has immediately recommenced the search for a new CFO.

Roger Devlin, chairman of the board, commented: “Whilst we note the reasons for Adrian’s decision, William Hill is focussed on taking the necessary steps required in these unprecedented times to protect the interests of its stakeholders. We will provide an update in due course.”

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The link-up between the trio will enhance the suite of compliance solutions offered by W2 and strategic partner Crucial Compliance and aid operators in overcoming regulatory challenges while also “future-proofing” compliance tools and processes. 

“Protecting players should be easy,” explained Warren Russell, CEO of W2. “Combining W2’s tools and expertise with Crucial Compliance and nChain, we’ve created a complete solution that puts players first and makes maintaining compliance simple for operators.” 

The collaboration between W2, Crucial Compliance and nChain brings ledge technology to the area of regulation and compliance for the first time.

Furthermore, the solutions being offered by W2 and Crucial Compliance are now supported by the blockchain technology of nChain, forming a complete compliance and player protection toolkit that mitigates the risk of operators being hit with fines.

Paul Foster, CEO at Crucial Compliance, added: “Distributed Ledger Technology is the future of regulatory compliance and player protection, and this collaboration between W2, Crucial and nChain allows our operator partners to leverage its huge potential today while future proofing for tomorrow.”

In addition, the deal will see W2 and Crucial Compliance gain access to nChain’s traceable, auditable, trustless compliance tools. 

Nick Hill, Sales Director at nChain, concluded: “We are passionate about the ways in which blockchain can enhance vital processes for businesses in a wide range of sectors but especially when it comes to gambling operators and regulatory compliance and player protection.

“This breakthrough partnership between nChain, W2 and Crucial Compliance makes these cutting-edge technologies available now, allowing gambling operators to enhance compliance and further mitigate the risk of fines and reputational damage.”

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Entitled Affordability for Gambling Tool, the product combines data assets from numerous sources at the individual, demographic and geographic levels on a ‘where available’ basis. This is said to allow operators to gain insight into multiple affordability indicators. 

Warren Russell, CEO & Founder at W2, said: “While we still wait with bated breath for the Gambling Commission to publish the result of its consultation on the Gambling Act 2005, it is clear that requirements around affordability are going to change and that operators will be required to do much more.

“Our Affordability for Gambling Tool has been developed to give operators a crystal-clear picture of the affordability of individual players but in a way that is not intrusive and does not impact their journey when signing up to a brand.

“This means that operators can meet any new requirements that come into force and avoid any potential fines and reputation damage they may be subject to in the event of non-compliance, whilst ensuring they build a true picture of their players.

“We are delighted to be developing this solution and working with other industry experts in our partners Crucial Compliance and nChain to tackle these inherent issues collaboratively.”

Furthermore, W2’s product will be delivered via the Crucial Compliance Player Protection tool that will see custom data consumption, either through API integration at onboard or trigger based on various markers of harm, ongoing monitoring for changes in player circumstance and verifying declared income without the need for documentation. 

The launch of W2’s affordability solution comes at a time when player affordability is very much under the microscope as part of the UK government’s review of the Gambling Act 2005.

As a result of the review, it is widely expected that the Gambling Commission will increase oversight and enforcement, especially when it comes to operators assessing and verifying player affordability.

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In a first for the data-services specialists, W2 will supply Crucial with data-based solutions to complement and bolster its own responsible gaming product offering.

“I am delighted that W2 have entered into their first ever partnership in igaming with Crucial Compliance. Our teams have joined forces to deliver simple-to-integrate, tiered compliance solutions to support operators existing platforms and our own,” stated Andy Masters COO at Crucial.  

“We have also entered into a joint analytical roadmap to solve some of the most complex data driven challenges in AML, EDD and Compliance, the fruits of which we will be bringing to market in Q1 2021 all centred around increased player protection and robust player decisioning”

It is said that the igaming team at identity verification and compliance solutions specialist W2 will work closely with Crucial’s own team of developers and analysts. 

This will provide access to its proprietary source data, supporting joint product development, as well as allowing for the two companies to deliver deep integration into existing systems, whilst helping to develop new, inline enhanced due diligence, know your customer and anti-money laundering solutions. 

Peter Murray, group head of Sales at W2, explained: “For over a decade now W2 has provided support across the gaming sector and we recognise the importance of collaboration in addressing the key issues of the day. 

“There can be no more critical issue facing all stakeholders than ensuring customers are protected and player safety is at the heart of everything the industry does. That is why we value this partnership so much. The team at Crucial Compliance bring a unique perspective and wealth of expertise with a desire to simplify solutions and delivery that matches ours. 

“We want that collaboration of data, technology, and subject matter expertise to deliver solutions that make a difference. 2021 is critical for the sector and we hope that we can play our part in the drive for safety, trust and sustainability.”

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The funding is to be used to expand sales and marketing efforts, broaden and accelerate product development and extend global reach, and is intended to drive forward the business further still across its core sectors.

Lauding its efforts throughout 2018, W2 hopes to build upon momentum which saw a rapidly growing list of clients, key employee appointments and market momentum in target sectors such as emerging payments, betting and gaming.

Warren Russell, CEO of W2, explained: “With the continued support from Mercia and Development Bank of Wales we will be able to continue establishing our position as a key world player in our field.

“This further investment will enable us to step up our international sales plans and further grow our team to support our rapidly expanding business.

“We feel honoured that our existing investors are backing us every step of the way.”

Securing its latest funding following significant investment being secured during the early of 2017 for W2, the Newport-based organisation stressed a focus upon streamlining customer acquisition and managing regulatory risk by performing real-time identity verification, anti-money laundering and anti-fraud checks.

Julian Viggars, chief investment officer of Mercia Technologies, commented: “Having initially backed W2 through our managed funds, we are delighted to continue to support the business and its highly experienced management team, as it becomes the latest emerging star to join our direct investment portfolio.

“SaaS technology continues to be one of Mercia’s key areas of focus, and we see significant potential for delivering shareholder value over the medium term as W2 continues to grow.”

Richard Thompson, senior investment executive at Development Bank of Wales, added: “We are thrilled to once again be co-investing with Mercia in this latest round to support Warren and his team.

“W2 has made tremendous progress in recent years, and we are excited to see what this funding will bring to the business.

“With this investment and the increasing demands in regulatory compliance W2 are well positioned to become a leading player in their market.”

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