Former Scientific Games CEO Gavin Isaacs has resigned as vice-chair of the board as his four-and-a-half year relationship with the gaming giant comes to an end.
Isaacs was appointed chief executive of Scientific Games in June, 2014, following the company’s merger with Bally Technologies that same year.
He played a key role in the $5bn merger, having served as chief operating officer of Bally Technologies prior to the deal.
Before that, Isaacs was CEO at SHFL, which was itself acquired by Bally back in 2013.
Isaacs held the position of CEO of Scientific Games until August, 2016, when Kevin Sheehan took over the role – ultimately to be succeeded by Barry Cottle, the company’s present president and CEO.
Dick Haddrill and Peter Cohen remain as SG‘s vice chairmen.
The move follows encouraging Q3 results for the company, when revenue was up seven per cent year on year, to $821m, including $46.5m from NYX, along with growth in SG’s lottery and social businesses.
Net loss was $351.6m compared to $59.3m in the corresponding period in 2017, thanks mostly to a hefty $338.7m bill for restructuring and other charges, including $309.6m in relation to the verdict in the Shuffle Tech anti-trust lawsuit.
Cottle said at the time: “We are very pleased with the growth we are seeing across our businesses as we continue to lead our industry into the future.
“Our investments in digital, sports betting, and new games are producing the most innovative and engaging products in the market and we are excited about the customer response here in the US and around the world. For our rapidly growing social business, an IPO would give us greater flexibility to pursue growth for the business and drive value for stakeholders.
“We remain focused on delivering for our customers and running our business efficiently and effectively to drive revenue, reduce costs and continue to build momentum across the company.”