SBC News Voice of the Sports Betting Industry
In a move that has surprised industry analysts, Nasdaq-listed Scientific Games Corporation (SGC) has announced the appointment of Kevin Sheehan as its new Chief Executive, as incumbent Gavin Isaacs moves to the governance position of Vice Chairman of the Board.
Announcing the appointments this weekend, SGC confirmed to the media that Sheehan and Isaacs had already assumed their new governance roles effective immediately.
Sheehan joins SGC from Norwegian Cruise Line, where he served as CEO and President for seven years guiding the business through its initial public offering in 2013.
The appointment of Sheehan has surprised industry analysts, as Gavin Isaacs has proved a popular CEO with SGC investors, leading company expansion through the corporate acquisitions of WMS Industries ($1.5 billion -2013) and Bally Technologies ($3.3 billion – 2014). Bloomberg News had stated that Isaacs’ had gained a ‘cult-like status amongst gambling investors.
Ronald O. Perelman, Chairman of the Board of SGC commented on the leadership change
“I am so pleased to welcome Kevin to Scientific Games and that Gavin will continue with the company in his new role. With the company fully integrated, it is the right time to expand our leadership team so we can take full advantage of the new and growing opportunities open to a company with our global scale and broad expertise. Kevin’s intellect and experience will be an invaluable asset as we move forward as one company,”
Gavin Isaacs backed the decision, stating “Today we are one company with three strong businesses – gaming, lottery and interactive. Our integration is behind us and our business strategies are delivering solid results. With our momentum building, I’m moving from an operational leadership position to a more strategic role, Vice Chairman of the Board of Directors. On behalf of my colleagues and the Board, we welcome our new CEO and President, Kevin Sheehan. This is the right time to grow our leadership team and have someone of Kevin’s talent, experience, and financial acumen take us to the next phase of growth and innovation,”
Kevin Sheehan commented on taking on SGC leadership
“Scientific Games is the worldwide leader in gaming, lottery and interactive innovation and I look forward to building on that momentum to drive continued growth across the company. Scientific Games offers an unrivaled comprehensive suite of products and services for our customers around the world and is well positioned to continue to grow.”
