Sports betting supplier FSB to shift focus away from US under new interim leadership
Sports betting and gaming technology supplier FSB has a new interim CEO in Adam Smith.
Smith, who recently joined FSB as head of delivery, will take over from co-founder David McDowell, who was CEO for 15 years.McDowell has stepped up to the company’s board and will continue to support the supplier’s new management team as they focus on key regional markets including the UK, Ireland, Europe, and Africa.
This shift in strategy follows a review that resulted in the decision to de-prioritise operations in the US market.
In March, FSB received regulatory approval in Ontario, Canada and that market remains a committed focus for the company, with two significant launches lined up for Q1 2023.
“Leading FSB into 2023 is a great honour for me,” said Smith. “The strength of our world-class technology and the talent of our people means there is a huge opportunity ahead for the organisation.“I look forward to working closely with this driven, determined leadership team who I have no doubt will secure us further success in our core markets.
“Our end of year strategic review has allowed us to further sharpen our laser focus when it comes to delivering for existing and new partners across our core markets in 2023 and we continue to work closely with our private equity partners Clairvest and share with them a huge sense of positivity for the year ahead,” he added.Smith, a technology and telecommunications expert, has experience in running large scale and multi-jurisdictional regulated market delivery programmes and has previously led business scaling and transformation initiatives in the telco, manufacturing and IT services sectors.
FSB chief revenue officer Ian Freeman said 2022 had been a successful year for the company but that FSB’s primary goal was to ensure that the company’s resources are aligned to support the best market conditions and the revenue opportunities.
“Within this context, we’re now de-prioritising investment in the cost prohibitive US market in the short to medium term,” said Freeman.
Sharing his thoughts on the move to the company’s board, McDowell said: “As a co-founder, I will always have a place in my heart for FSB and I am extremely proud of what we have achieved together.”