GGRAsia – SG Digital picks ex-Playtech exec as finance chief

SG Digital picks ex-Playtech exec as finance chief

Oct 04, 2018 Newsdesk Industry Talk, Latest News, World

Scientific Games Corp, a U.S.-based maker of casino equipment and provider of lottery services, has a new chief financial officer for its SG Digital arm.

In a written statement issued on Wednesday, Scientific Games said Alexander Ambrose has the job of propelling growth in online gambling – which is sometimes referred to as iGaming – and sports betting. Mr Ambrose was previously the finance director of game developer Ash Gaming and the finance director of Playtech Plc. Both companies are based in Britain.

The statement said Mr Ambrose would work from SG Digital’s London office and be answerable to Scientific Games executive vice-president and chief financial officer Michael Quartieri.

“Alex is the perfect addition to our team as we level up our product portfolio and continue the rapid transformation of our sports book business to meet the needs of our growing U.S. customer base,” SG Digital chief operating officer Jason Walbridge said. “As a finance leader with strong industry expertise, Alex has extensive experience leading finance teams in a multi-product environment.”

Commenting on Mr Ambrose’s appointment, Mr Quartieri said: “His in-depth financial experience in iGaming will enable him to drive operational excellence, execute best practices and position us for growth in our iGaming and sports book businesses.”

In August, Scientific Games reported a reduction in its group-wide second-quarter net loss to US$5.8 million this year from US$39.1 million last year as second-quarter revenue grew by 10.2 percent to US$844.7 million, with a strong performance from the digital segment.

Mr Quartieri said the improved results and lower interest costs provided the company “with a clear path of increasing cash flows, deleveraging and strengthening our balance sheet”.

Deutsche Bank Securities Inc said in March that Scientific Game’s leveraging, coupled with “continued struggles” in its wide-area progressive slot machine and premium gaming segment, made creation of “upside momentum” in the stock a challenge.

ENDS