Online gaming platform provider OpenBet has begun the search for a new CEO following the departure of David Loveday after more than eleven years in the role.
OpenBet’s board of directors confirmed Wednesday that Loveday has left his role with immediate effect to pursue other opportunities.
Loveday had been CEO of OpenBet since 2002.
“The company would like to thank David for his many years of contribution to OpenBet’s establishment as a market leader in gaming software, and to extend its best wishes for his future endeavours,” OpenBet said in a statement. “The board is actively engaged in the search for a new CEO and will make a further announcement when appropriate.”
The company added that OpenBet’s existing management team will continue to lead the business with support from independent private equity firm Vitruvian Partners.
During his time as CEO, Loveday steered the company’s acquisition strategy and expansion into regulated markets, including the successful acquisitions of NT Media, Electracade and most recently Alphameric Solutions, now OpenBet Retail.
OpenBet powers some of the most successful online sportsbooks on the market such as William Hill and Paddy Power, as well as state-controlled operators Danske Spil in Denmark and France’s PMU.
The company has also recently made an impact on the North American lottery market through deals to supply Atlantic Lottery Corporation, British Columbia Lottery Corporation and Loto-Quebec with their first online gaming platforms.
Prior to joining OpenBet, Loveday established the international business for KANA in 1997 (CRM Company), contributing to its IPO on NASDAQ in 1999. His previous career encompassed senior sales roles in the investment banking market working for Sun and then Sybase.