Gaming operator GVC Holdings has recently appointed Dean Shannon as Chief Executive of its Australian operations. Shannon will take the place of Jason Scott as head of the company’s Ladbrokes and Neds brands in Australia. Scott served in the position for two years before this recent development.
Jason Scott was awarded a permanent contract with GVC in August of 2017, after having served as Australia interim CEO for six months. When this recent development was announced, it was said that Scott is leaving the company to pursue other opportunities.
Before Neds was established, Shannon has already served as Ladbrokes Australia CEO between 2013 and 2017. He first joined Ladbrokes Australia after the company acquired Bookmaker.com.au, Shannon’s previous online betting business. That deal was worth AUD22.5 million.
He left GVC to establish Neds International, which he sold to GVC in November 2018. The sale of Neds was worth around AUD95 million. Following the sale of Neds to GVC, Shannon served as a non-executive director as well as consultant of the business.
GVC acquired Neds at a time when there was a wave of consolidation in the Australian sports betting field. The acquisition was made in a bid for the company to extend their footprint across the Australian gambling market. They chose Neds not only because of their connection with Shannon, but also because the business has shown tremendous growth despite having been established only a year prior to the acquisition.
Providing investors with company updates, including Shannon’s appointment, GVC Chief Executive Kenneth Alexander underlined how important it is for Shannon to lead a ‘core market division’, which reported significant growth in the first half of 2019 trading.
Alexander further backed Shannon’s recent appointment by saying: “We are delighted to announce Dean’s appointment. He is a highly dynamic, experienced leader with the entrepreneurial skills that will drive our Australian business to even greater success in the future. I’d also like to put on record my thanks to Jason Scott for the job he has done in establishing the group as a market leader in Australia.”
Asked to comment on his recent appointment, Shannon said: “I am truly excited to be leading GVC’s Australian businesses. I believe that in Ladbrokes and Neds we have two of the leading brands in the market, and backed by our proprietary technology and highly talented team, we are very well placed for growth.”
Australia has been identified as a key market for GVC, and it has recently shown considerable success. GVC Holdings reported a year-on-year increase of 28% in their revenue from Australia last month. This significant increase helped drive their net gaming revenue (NGR) for six months, until June 30 to $2.19 billion. The marketing and bonusing strategy as well as the benefits of “best of book” sharing between Neds and Ladbrokes seem to have been the driving force behind the revenue increase.
Considering their history, Shannon’s recent appointment as GVC CEO for Australian operations is the most logical move for the company, following Scott’s departure.