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Software Giant Playtech Makes Board Appointment

Online gambling software behemoth Playtech has been at the center of attention again, it seems, over the festive period, after making a considerable appointment to its board.

Indeed, Samy Reeb has arrived as a Non-Executive Director with immediate effect, and the general consensus within the executive committee indicates that this can be a highly valuable move from Playtech.

Reeb himself possesses considerable experience in the wealth and advisory sectors, having begun his career at management consultancy Ernst & Young as a tax advisor before moving on to investment bank Credit Suisse where he focused on tax management.

His move to niche wealth manager Julius Baer saw him operate as an executive director before he joined 1291 Group - a wealth protection specialist as a managing partner.

Reeb to Bring Wealth of Experience to Playtech

While on the face of it, this may seem like just another hire, there is nothing ordinary about this, and Playtech knows that it has secured a major asset that can help to significantly elevate its position.

I am delighted to welcome Samy to Playtech. His broad skillset and extensive knowledge of Asia will provide additional depth and experience to the Board. We all look forward to working with him as we continue to execute the Group's strategy.

Brian MattingleyNon-Executive Chairman Playtech

Reeb's contacts in Asia will be key for Playtech's ambitious growth plan, especially when it comes to dominating a market that is likely to expand aggressively in the future. Not only that, though, Reeb arrives with a sterling reputation that can be of vital assistance to the software provider.

When it comes to strategy, this is where Reeb may likely come into his own, and his time spent at two of the world's leading wealth institutions, as well as the processes he learned at Ernst & Young, can be a big help to leading Playtech's direction.

How Does This Affect Any Potential Takeover?

Over the last 18 months, the software provider has been the subject of three failed takeover bids from numerous parties, which were swiftly rebuffed. However, this does not necessarily mean that more won't materialize over the coming year.

While Playtech has stated its ambitions to become a global leader in the online gambling industry and also expand into other markets, there may certainly be bigger companies that can achieve this more quickly.

The appointment of someone of Reeb's caliber, though, may just help to accelerate the brand's vision and possibly help to keep it out of the hands of any rivals or potential competitors.

However, Reeb's extensive contact book may come in useful if any possible takeover realistically materializes, and he could be a vital cog in the machine with any negotiations, perhaps helping to smooth these over effectively.

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