Shay Segev outlines five-point plan as GVC CEO
New boss keen to grow US market share as acquisitions on the scale of Ladbrokes Coral are ruled out
New GVC chief executive Shay Segev has unveiled a five-point plan to drive growth at the FTSE 100 operator.
The 44-year-old Israeli took charge of the London-listed giant on 17 July after long-standing CEO Kenny Alexander called time on his 13-year reign.
No stranger to the business, Segev has worked at GVC since 2016 as chief operating officer, running key departments including the UK retail team and GVC’s US joint venture with MGM.
On his first day in the job, Segev emailed staff to say the operator was in “an incredibly strong position” following its H1 results and that he couldn’t have chosen a more exciting time to become CEO.
GVC CEO Shay Segev
Segev, who cut his teeth in this industry with Playtech and is currently based in Gibraltar, revealed his five key areas of focus in the email, as seen by EGR:
US number one
“We’re now live in seven states with more on the way. This is the largest opportunity for growth for us, and it’s key that we cement our position and grow market share.”
Organic growth
“Organic growth is vital to our future and our double-digit growth for the last 18 quarters demonstrates our success in achieving this.
“We will build and re-build our key brands to achieve this, supported by our strength in digital marketing, tech and products.”
M&A
“M&A is still important to us, while we may not see transformational acquisitions to the scale of the Ladbrokes Coral integration. We’re eager to capitalise on new markets, technologies and brands.”
Operational execution
“Our operational execution as a business has been second to none. We have the best teams and people in place across the industry, as proven by how we dealt with the Covid-19 crisis.”
Responsible gambling
“Building on the reputation of our brands, GVC has championed the importance of responsible gambling and this is a top priority to continue.
“We provide exciting entertainment for our customers every day and it’s essential that responsibility is part of our DNA.
“We’ve built a safety net of algorithms, checks and interventions and I’ll continue to listen to our customers and communities to build on these,” he added.
Here’s a further five things we learned from GVC’s H1 results after Alexander bid farewell to the firm.