The leading gaming software and solutions provider Playtech issued a trading update for its full-year 2016 financial results. The LSE-traded company also announced a directorate change in a special press release published on its website.
As revealed by the supplier itself, Playtech’s Board of Directors has decided to strip Ron Hoffman off his responsibilities as Chief Financial Officer and make him take over the Chief Executive Officer role at the company’s Financial division. The change in Mr. Hoffman’s position at the company will also see him immediately stepping down from the gaming software developer’s Board of Directors.
Mr. Ron Hoffman has more than a decade of professional experience as part of a member of Playtech’s team. As the company itself revealed, he was one of the earliest recruits to the supplier and has grown to play a major role in the software provider’s corporate development since then.
The current Head of Investor Relation Andrew Smith is to succeed Ron Hoffman at the position of Chief Financial Officer. He will also become part of Playtech’s Board of Directors at the position of and Executive Director. The change is to take immediate effect.
The Chairman of Playtech Alan Jackson commented on the change in both Mr. Hoffman and Mr. Smith’s positions, and acknowledged their contribution while serving at their roles until the directorate change.
In addition to the directorate change within the ranks of Playtech, the company has also announced a trading update related to the its annual results for the year that ended on December 31st, 2016. The supplier revealed that similar trends to the ones reported at the beginning of November were registered in both its Financials division and Gaming division.
Now, the company shared that it expected its full-year results to correspond to the overall market expectations. Playtech also said that its Board of Directors retains its confidence for further growth being generated over the current fiscal year and in the future as a whole.
Playtech is expected to make an official announcement of its annual results on February 23rd.
Another important aspect of the company’s official announcements was the news that the leading gaming software developer has reached an extension to its partnership agreement with the UK-based bookmaker William Hill. The deal expansion is until the end of 2019.
- Author
Olivia Cole
