Nektan, an international B2B and white label gaming software and services provider, has confirmed that GVC’s Simon Hay will be joining the company as its new Chief Financial Officer (CFO).
Hay is due to start the new role from June 17, bringing with him a wealth of experience from two decades in the accountancy and consultancy sectors. Prior to this, Hay was previously finance transformation director at GVC Holdings.
Lucy Buckley, chief executive officer of Nektan, said: “We are delighted to welcome Simon as CFO.
“He joins us at a very exciting time for the business as we continue our rapid growth and path to sustained profitability. His international expertise will be especially valuable as we expand into new emerging territories, providing leading gaming and casino brands with our technology and premium content globally,” she said.
Hay is a chartered accountant, having qualified with KPMG, where he was a director and where he spent much of his career.
During his role at KPMG, Hay held a number of positions in audit, restructuring and deal advisory and was also seconded to Thomas Cook as a strategy manager.
The news comes after Nektan had offloaded its US-specific mobile casino property ‘Respin’ to private enterprise Alternative Investment Partners, completing a £300,000 cash transaction.
Executives at the software and services provider confirmed that it had sold its 57 per cent equity in the US brand, at a lower price than originally anticipated, stating that the firm wishes to halt its ‘stateside cash-burn’.
Nektan had previously priced its Respin asset at £2m cash consideration, with a further £300,000 working capital attachment. However, Nektan leadership settled for a £300,000 cash deal, with Alternative Investment Partners committing to £800,000 in working capital provisions.