The iGaming industry is undergoing a notable period of transition, with series of executive departures, strategic appointments and corporate restructuring efforts.
Several key operators have announced leadership changes, with shifts in direction as they respond to evolving market dynamics, internal growth objectives, and post-acquisition integration. And while some organizations are navigating challenging financial results, the others are strengthening their leadership teams to support continued expansion and innovation.
Let’s see how firms are recalibrating their strategies in response to shifting priorities and market trends in June. Below is an overview of the most significant developments shaping the industry during the month.
And remember, we don’t gossip – we just listen carefully and forward responsibly.
Phil Pearson walks away from WLC, leaving the industry guessing
Phil Pearson has stepped down as CEO of White Label Casinos, a role he held since the company’s launch in February 2023 following its spin-off from iGaming Group.
Previously Chief Operating Officer at iGaming Group, Pearson played a key role in WLC’s early growth, overseeing regulatory wins and performance milestones. However, he emphasized that fostering a culture of inclusion and internal development was his proudest achievement.
In a personal statement, he announced plans to take a break after nine years in the industry, with no immediate return planned.
Phil Pearson mentioned:
I’ll be watching cricket for the next three months and weighing my options. Maybe an animal sanctuary, maybe a sandwich shop – or both.
No new CEO has been appointed at this time, but Pearson’s tenure is defined by decisive leadership and a strong emphasis on team cohesion.
The real story behind Kraynov’s exit
Ivan Kraynov, co-founder of Boomerang Partners, has announced his departure from the company to focus on new investment projects across sectors including IT, HoReCa, and other emerging industries.
Since co-founding Boomerang in 2020, Kraynov has been instrumental in steering the company’s strategic vision and international expansion. Under his leadership, the affiliate marketing brand has built a strong global presence, forged partnerships with high-profile names like AC Milan and Alisha Lehmann, and launched major initiatives such as the Golden Boomerang Awards – which attracted over 400 teams in 2024 alone.
Ivan Kraynov mentioned:
I’m proud of what we’ve built – from forming a brilliant team to becoming a recognized name in the industry. It’s the right moment to shift focus and explore new opportunities.
Boomerang Partners will continue operating under its existing leadership, with plans to further expand its market footprint and accelerate growth across its portfolio of over 15 iGaming brands.
Key executive shift at Light & Wonder
Light & Wonder has confirmed that James Sottile, Executive Vice President and Chief Legal Officer, will retire effective 31 December 2025. The announcement was made via an SEC filing after Sottile submitted his retirement notice on 16 June.
To ensure a seamless transition, the company has appointed Susan Dawson – currently Senior Vice President and Deputy General Counsel – as his successor. Dawson, who has been with Light & Wonder since 2012, will relocate from the UK to Las Vegas to assume her new role as Chief Legal Officer and Corporate Secretary.
Sottile will continue supporting the company through 2026 in a consulting role, receiving a monthly fee of $11,959 to advise on legal and governance matters.
His retirement comes at a pivotal time for Light & Wonder, which recently reported strong financials and announced a $1 billion acquisition of Grover Gaming. The company is targeting $2 billion in adjusted EBITDA by 2028, reflecting its ongoing expansion and strategic ambitions.
LeoVegas Co-Founder Hagman Steps Down After 14 Years
LeoVegas Group has officially entered a new chapter with the appointment of Mattias Wedar as CEO, succeeding Gustaf Hagman, who steps down after 14 years at the helm. Wedar, who previously served as Chief Product and Technology Officer and Deputy CEO, assumes the role effective immediately.
Hagman co-founded LeoVegas with Robin Ramm-Ericson in 2011 and led the company’s transformation from a startup to an international iGaming leader. Under his leadership, the group launched its proprietary Rhino platform, expanded globally, and became part of MGM Resorts International in 2022. More recently, it added Push Gaming and Tipico U.S.’s sportsbook to its portfolio.
Gustaf Hagman mentioned:
Founding and leading LeoVegas has been one of the greatest adventures of my life. Now, as part of the MGM family, this is the right moment for new leadership to continue our growth story.
Wedar brings a strong tech and gaming background, having held senior roles at Mr Green and within LeoVegas since 2019. He now leads the group as it sharpens its focus on innovation, product development, and global expansion.
MGM Resorts Interactive President Gary Fritz praised Hagman’s contributions and expressed full confidence in Wedar’s ability to drive the next phase of strategic growth.
Raketech proposes new chair and board member after difficult year
Raketech has proposed Kathryn Baker as its incoming Chair of the Board, with Magnus Alebo also nominated as a new board member. If approved at the upcoming general meeting, both appointments will take effect on 30 July 2025, following the departure of current Chair Ulrik Bengtsson.
Baker brings over 25 years of experience in private equity, venture capital, and corporate governance. She previously served as Chair of Catena Media and held a board position at Gaming Innovation Group – experience expected to guide Raketech through a critical period of renewal.
Alebo, known for senior roles at Betsson Group, William Hill, and Hero Gaming, also founded Casumba Media, now part of Raketech’s portfolio. His operational and marketing expertise is set to strengthen Raketech’s affiliate and content strategies.
Johan Svensson mentioned:
Their leadership and sector knowledge will be key as we execute our strategy and work toward sustainable growth.
The nominations come as Raketech continues to restructure after reporting a challenging 2024, with €61.2 million in revenue and an operating loss of €55 million.
Neil Brookes joins LuckyStreak to initiate the next phase of product innovation
LuckyStreak, the Riga-based live casino content provider, has named Neil Brookes as its new Head of Product, reinforcing its focus on innovation and player-centric development.
Brookes joins with over 20 years of experience in sports betting and iGaming. He spent 11 years at Inspired Entertainment, where he led virtual sports product strategy as Head of Product. His responsibilities included game design, marketing, and performance optimization. Prior to that, he held trading roles at SkyBet, Betfred, and Paul Dean Bookmakers, gaining valuable expertise in customer engagement and operational insight.
In his new role, Brookes will define and oversee LuckyStreak’s product roadmap, ensuring alignment with the company’s strategic vision while delivering value to both players and partners.
Ady Totah mentioned:
Neil brings a true product mindset and deep market experience that aligns perfectly with our next stage of growth.
Brookes added that LuckyStreak’s ambition, people-focused culture, and commitment to innovation made the opportunity a natural fit.
Thinking Out Loud…
The transitions seen across major players reflect more than just individual career changes, as they highlight how companies are re-evaluating their structures and priorities in response to evolving market conditions. As we move into the second half of 2025, all eyes will be on how these leadership changes translate into strategic execution and industry progress.
The views expressed in this article represent the author’s personal observations and interpretations of recent events. They are not intended to influence or impose any particular perspective. Readers are encouraged to assess the information independently and form their own opinions.
