The surprising resignations of William Woodhams from Fitzdares and Brian Mattingley from Playtech have stunned many gamblers and industry experts, and there is uncertainty about what these changes would hold for the sector in the UK.
Online betting and gambling have enjoyed year-on-year growth in the UK, with the UK Gambling Commission reporting a gross gambling yield of £1.32 billion by October 2024, and the online gambling market is expected to reach a total of £11.72 billion in 2025. This lucrative industry is thanks to the convenience of regulated sites, like online sportsbooks and poker platforms. According to CardPlayer.com, the top sites for UK players include CoinPoker and BC.Game, and it is the ease of these sites that is spurring the uptake of online gambling and betting in the country.
Fitzdares is one of the leading betting and gambling companies in the country, and CEO Woodhams announced late in January that he will be resigning after several successful years at the company, with his last day being 31 January.
Woodhams first joined Fitzdares in mid-2018 as CEO of this long-standing sports betting operator. Fitzdares has been accepting bets since 1882, achieving legendary status in the industry, especially among horse racing punters. The CEO used his time at the company well, increasing the focus on horseracing. After almost seven years at the company, he said of his departure, “Seven years in racing is like dog years”, equating his time to about 70 years doing a normal job outside of the betting industry.
He had a profound impact on the company, seeing it through many hardships, including the Labour government’s Gambling Act white paper.
Woodhams recounts his time at Fitzdares fondly, stating that he had a fun time and that all the “bloody hard work” to pass the Gambling Commission assessment was worth it, but that he was happy to step down and give someone else the opportunity to run the company.
The resignation marks the end of an era in the Woodhams family, which has been involved in the racing industry for two centuries. The Betting and Gaming Council is also sad to see him go, noting the CEO’s significant contribution to horseracing and the betting sector as a whole.
In a move that also shocked many, Brian Mattingly officially announced his retirement from Playtech’s board, where he acted as chairman for three and a half years. The search for Mattingly’s successor has already started, with Egon Zehnder International reportedly handling the situation.
Before joining Playtech, Mattingly served as CEO of 888 Holdings Plc from August 2011 to March 2021. Interestingly, Playtech attempted to take over 888 in 2023, a £700 million offer that was ultimately rejected.
Mattingly’s time at Playtech was eventful as he had to handle a tough period of corporate activity, while shareholders were up in arms about boardroom pay and corporate governance. The latest storm to hit Playtech was when the news came out that Mor Weizer, Playtech’s CEO, was receiving a £83 million (€100 million) bonus, which caused stakeholder upset.
The chairman has also been given credit for navigating the company through other challenging times in the volatile gambling industry. He played a key role in securing the sale of Snaitech for £1.9 billion, a threefold return on Playtech’s investment. His tenure at the company also saw Playtech shares increase by 60%.
There is no set reason why these leadership changes are happening in the industry. For Woodhams, he simply felt like his time at the company has come to an end and he is ready to move on to other projects. Both Playtech and Mattingly have yet to comment on his reported retirement, but it is speculated that he also feels like he is ready to move on. Mattingly has been chairman at 888 Holdings (another gambling firm) since 2015 and he has yet to announce his retirement from this role.
It is unlikely that these leadership changes will have significant impacts on the gambling industry as a whole. Playtech is reportedly already looking for a replacement, and although Mattlingly’s studious presence will likely be missed, the remainder of the board and the CEO remain the same.
Fitzdares has not yet announced a replacement for Woodhams – which will be large shoes to fill – but it is expected that the company will consult with stakeholders and the board to make the final decision.