Playtech names new Financials chief, issues trading update

Playtech has announced Ron Hoffman will move from his role as chief financial officer to become chief executive of its Financials division.

The firm has also said that it expects to reach its full-year expectations for 2016.

Hoffman joined Playtech in 2004 and has played a part in a number of major corporate development initiatives, including its listing on AIM in 2006 and its transition to the Main Market in 2012.

Andrew Smith, who currently serves as head of investor relations, will succeed Hoffman as chief financial officer and join the board as an executive director with immediate effect.

Playtech has brought in James Newman from Bell Pottinger to replace Smith in his previous role at the company.

Alan Jackson, chairman of Playtech, said: “I am delighted to welcome Andrew as chief financial officer of Playtech whilst at the same time thanking Ron for the skill and dedication he has brought to the role over the past four years.

“Andrew is the natural successor to Ron, having played an increasingly important part in Playtech’s financial, operational and strategic performance over the past few years, becoming a key member of Playtech's management team as well as an important contributor at board level.”

Meanwhile, Playtech has issued a trading update to the market, in which the firm forecasts that financial results will be in line with expectations for the 12 months to December 31, 2016, with further growth expected by the Playtech board this year.

In addition, Playtech has agreed an extension to its arrangements with William Hill until the end of 2019.

Related article: Playtech completes €50m share buyback programme