SBC News Andy McCue returns to betting with Betsson AB

Andy McCue returns to betting with Betsson AB

Betsson AB has moved to strengthen its governance advisory confirming the appointment of former Paddy Power Chief Executive Andy McCue as a company non-executive director.

The appointment of McCue follows the conclusion of Betsson’s AGM, in which the Stockholm-listed online gambling group re-elected all members of its existing board led by Chairman Patrick Svensk.

A ten-year Paddy Power senior executive, in 2015 McCue served as the Irish legacy bookmaker’s last Chief Executive, guiding the firm through its £5 billion merger with Betfair, a record industry deal which formed FTSE100 enterprise Paddy Power Betfair.

Hotly tipped to replace Breon Corcoran as Group CEO of Paddy Power Betfair, in 2016 McCue left the company having completed all merger projects as Group COO.

Choosing to move away from gambling, in 2016 McCue took leadership of The Restaurant Group Plc, overseeing the firm’s £550 million acquisition of Wagamama.

At the start of 2019, McCue left the Restaurant Group citing ‘extenuating personal circumstances’, having been replaced by former Gala Coral and GVC Holdings executive Andy Hornby.

McCue joins Betsson as corporate governance continues its strategic transformation programme in which it seeks to diversify Betsson’s marketplace make-up and business services.

2020 has seen Betsson amplify its international investment, acquiring a majority stake in Brazilian racebook Suaposta.  Meanwhile, last week the company confirmed its imminent plans to launch its flagship sportsbook property Betsafe in Kenya through a joint-venture partnership with Bet High Ltd.

Betsson maintains that it will launch a B2B sportsbook division in 2020 maximising the firm’s technology capacities. However, the firm’s B2B schedule has been interrupted by the unforeseen circumstances of the COVID-19 pandemic, cancelling the global sports calendar.

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