Light & Wonder Names Matt Wilson Permanent CEO, MGM Interactive Gets New President

Posted on: October 11, 2022, 03:37h. 

Last updated on: October 12, 2022, 10:52h.

Todd Shriber @etfgodfather Read More
Expertise: Financial, Gaming Business, Mergers and Acquisitions.

The past several days have been a busy period of high-level executive announcements at publicly traded gaming companies.

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Light & Wonder CEO Matt Wilson. He’s taking that job on a permanent basis. (Image: LinkedIn)

On Monday, Light & Wonder (NASDAQ: LNW) said Matt Wilson will become chief executive officer on an ongoing basis. He was named interim CEO in August, replacing Barry Cottle.

The Board of Directors unanimously determined that Matt is the right choice to lead Light & Wonder’s next chapter given his impressive track record, extensive industry experience and his pivotal role in transforming our business,” said Jamie Odell, Executive Chair of the Light & Wonder Board of Directors, in a statement.

The company also said Siobhan Lane is taking the reins as chief executive officer of gaming — a role previously held by Wilson. Lane was serving as senior vice president and chief commercial officer of gaming.

MGM Resorts Interactive New President

On Monday, MGM Resorts International (NYSE: MGM) said it appointed Gary Fritz as president of MGM Resorts Interactive, which includes the operator’s thriving BetMGM unit.

“Fritz recently led MGM Resorts’ successful acquisition of LeoVegas, a leading online global gaming company with access to several jurisdictions globally. In his new role, Fritz will be responsible for the company’s growth strategies in digital gaming, including both organic growth and potential M&A activities,” according to a statement issued by MGM.

Fritz previously served as head of gaming for IAC/InterActiveCorp (NASDAQ:IAC), which is the largest MGM shareholder. IAC owns 16.5% of MGM shares. The company initially invested in the casino giant in August 2020.

BetMGM is 50/50 jointly owned by MGM and Entain Plc (OTC: GMVHY). It’s the largest internet casino operator in the US and the second-largest online sportsbook company.

“Previously, Fritz led global strategy and expansion plans for multinational companies, including IAC, TripAdvisor and Expedia,” added MGM.

Marina Bay Sands Departure

It was revealed on Monday that George Tanasijevich — managing director of Marina Bay Sands in Singapore — was leaving for another opportunity.

He’d been with Las Vegas Sands (NYSE:LVS) for nearly two decades and oversaw the bid for and subsequent development of Marina Bay Sands. Today, that integrated resort — one of just two in Singapore — is one of the most profitable venues of its kind in the world.

Sands confirmed his departure, while The Straits Times reports he’s leaving to oversee a real estate project in Saudi Arabia.