OAKLAND, Calif.--(BUSINESS WIRE)--CashBet (www.cashbet.com) today announced that Stephen Race has joined the company’s Board of Directors. Race brings over 30 years domestic and international executive leadership experience across a wide range of industries, including gaming, financial services, and consumer goods. He is currently a Portfolio Manager at Strategic Turnaround Fund, a hedge fund focused on micro-cap US companies. Prior to STG, Race was the CEO of Regent Pacific Management Corporation, where he focused on restructuring and performance improvement for public and private companies, primarily concentrating on middle market consumer companies up to $750 million in revenue. Until 2008, he was President and CEO of HedgeStreet, a financial services company oriented toward consumers. Race spent a considerable portion of his career in the video game industry, first with Atari and then with Sega. As President of Sony in North America until 1995, Race launched and managed the PlayStation, and turned around Microprose, selling the company to Hasbro in 1999. Race has served on numerous private and public boards, including the board of directors of Bally Technologies, a leading slot machine manufacturer recently sold to Scientific Games.
Dr. Mike Reaves, CEO and co-founder of CashBet, said: “Steve’s breadth of experience at the board and CEO level will be invaluable as we expand our enterprise platform licensing business globally, by developing new partnerships and moving into an increasing number of regulated markets. His expertise in marketing and gaming will help us advance the features of the CashBet mobile-first iGaming platform to unparalleled industry-leading status. Managing growth over the next year and beyond is going to be crucial, and we view Steve’s leadership as both strategic and timely for our business.”
Race responded, “Expertise and innovation in mobile is a requisite for tomorrow's gaming industry leaders. CashBet could not be better positioned with its market-leading platform to enable this transformation. I am delighted to partner with Mike and his team to help iGaming operators around the world leverage this game-changing technology."
CashBet’s mobile-first iGaming platform handles all the needs of a serious iGaming operator from multi-jurisdictional compliance, to advanced audience segmentation, to mobile-first CRM, to multiple device management, for mobile and desktop channels, all within a single integrated system. Robust, secure, compliant, and feature-rich, CashBet helps its partners protect their players and boost the value of their brands in highly-regulated online gambling markets.
Founded in 2012, and based in California, CashBet is a leading mobile-first real-money gaming (RMG) platform provider and turnkey operator. CashBet operates on behalf of multiple brands in Europe and licenses its proprietary mobile-first platform to operators worldwide. Some of the most unique, diverse and compelling games are “Powered by CashBet”. By incorporating CashBet’s software, game developers can legally launch online gambling games without needing to be licensed. Through its feature-rich platform, CashBet delivers player segmentation, bonusing, campaign management, and other patent-pending features to enable a profitable real-money gaming operation from day one. CashBet leaders are veterans of the regulated, online gambling industry with many years of successful operation. CashBet is licensed by the Alderney Gambling Control Commission and the UK Gambling Commission. For more information, please visit www.cashbet.com.