Bovada Casino is widely regarded as one of the most respectable online gambling operators.
It has the upside of being around for a long time and caters for customers from both the United Kingdom and beyond borders.
It took them a while to build a reputation from scratch but we all know that nothing is as easy to lose as a good name. So far, they are not in danger of having their reputation tarnished, but there are some questions regarding their profitability.
The online gambling industry is as, competitive as it gets and the number of challengers has increased sharply. Many of these companies don’t have the resources, experience and vision to compete with the leaders.
However, Bovada casino has lost a lot of money recently and failed to fulfill its expectations for 2016. James Henderson was the chief executive officer since 2014, when he was appointed in this position. Previously, he was with the company for more than three decades and helped a lot.
Under his guidance however, the gambling group failed to consolidate his position at the top of the food chain. Furthermore, the runners-up managed to close the gap and they are now breathing down their necks. This is terrible news for an industry giant who has high expectations for the upcoming years and hopes to perpetuate its position.
The collateral victim of this unfortunate turn of events was obviously the CEO who had no choice, but to present his resignation.
Apparently he had no options whatsoever and preferred this way instead of getting sacked. Meanwhile, the chief financial officer will step up and claim this position for himself. He goes by the name of Philip Bowcock and another senior member of the online gambling operator. It is too early to tell if he will keep his position indefinitely or if this is just a permanent role that he is serving. From what we can tell, he has a bright future ahead, mostly due to his experience with the casino.
Not only Bovada is facing a lot of adversity, but also other online gambling operators. Especially those who are located in United Kingdom are frightened by the possibility of taxes going even higher. Add to this the difficulties caused by the Brexit and what you have is a perfect storm that affect all casinos, small and large.
With the new CEO and new expectations, they hope to be able to turn the ship around before it hits the rocks and past performance suggests that they are capable of doing that.