New appointment to CashBet board

The Oakland, California-based mobile i-gaming platform provider CashBet has announced the appointment to its board of Stephen Race, a highly experienced US businessman with long associations in the video gaming and financial services industries.

Race 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, and prior to that 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, he 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.”

Founded in 2012, CashBet operates on behalf of multiple brands in Europe and licenses its proprietary mobile-first platform to operators worldwide. The company is licensed by the Alderney Gambling Control Commission and the UK Gambling Commission.

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