Playtech gambles on strong results as it hires a new finance boss

Courtney Goldsmith
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Playtech is set for strong financial year results (Source: Getty)

Gambling software provider Playtech today announced full-year results for 2016 are likely to be in line with expectations, as it named Ron Hoffman the new chief executive of its financials division.​

Hoffman, formerly the company's chief financial officer, had played a role in the company's management and acquisition transactions and its listing on Aim in 2006.

Read more: Playtech shares rise on soaring sales

Andrew Smith, current head of investor relations, will take Hoffman's former role as chief financial officer.

"Ron is a tremendous asset to Playtech. He has established a first class finance function, which Andrew will inherit, and I am sure Ron will continue to thrive within the group for many years to come as he drives the financials division forwards," said Alan Jackson, the company's chairman.

Playtech, which has more than 130 online, retail and mobile licensees worldwide, said full-year results will be in line with market expectations.

Read more: Playtech shares and market cap jump as group treats investors to €150m divi

A previous trading update in November said reported revenue growth had been impacted by the recent weakening of the pound and other currencies against the euro.

​Playtech also today agreed to extend its arrangements with the William Hill Group until the end of 2019.

Yesterday shares in William Hill fell after it announced profits for 2016 will be around £20m lower than expected due to unfavourable football and horse racing results.

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