Paysafe brings in Zak Cutler to lead North America iGaming division

New York-listed payment platform provider Paysafe has appointed experienced iGaming executive Zak Cutler as CEO of its North America iGaming division.

The newly created executive role forms part of Paysafe’s ongoing strategic focus in the North American iGaming market, where the company already provides 75 per cent of operators with payments or marketing solutions across 16 US states, and the majority of the provincial lotteries in Canada.

Cutler joins Paysafe from iLottery provider Jackpocket where he served as vice president of strategy and product. Prior to that, he worked as director of product management at DraftKings.

“We believe Paysafe has huge potential to win in North American iGaming given our track record as the de facto payments specialist in this sector globally,” said Paysafe CEO Philip McHugh. “Now, with the additional leadership bench strength of Zak at the helm of our highly focused team, we are in a better position than ever to help operators seize the opportunities out there through the delivery of best-in-class payments products and services.

“Zak is very attuned to operator needs and is highly regarded by all who know him in the industry. He will be a real asset,” McHugh added.

Commenting on his appointment, Cutler said: “As a former Paysafe customer for many years, I’m thrilled to now have the opportunity to join the team in this capacity. While at Jackpocket and DraftKings, I was always impressed by Paysafe’s industry-leading products, and their foresight to invest in the North American iGaming industry long before it was in the mainstream. I also admired the team’s ability to develop deep relationships with customers.

“This approach resonates with my own style and commitment to helping iGaming operators grow rapidly through the delivery of outstanding products and unrivalled partnership. I’m really looking forward to playing my part now as a member of the team - I believe we are in the early innings of a massive opportunity.”

Shares in Paysafe Ltd (NYSE:PSFE) closed 0.84 per cent lower at $8.25 per share in New York Thursday.