High-impact figures in the gambling world and the indelible marks they left behind
The Gambling Titans:
The gambling empire was born from the grit and vision of legends, both old and new, who shaped the industry with their perseverance and genius. These unsung heroes have steered decade-long empires, built empires from scratch, and left an indelible impact on the casino world.
While the inner workings of this industry is a complex dance between mid-level managers and top-tier executives, there are some luminaries whose influence is too profound to be ignored. Today, we dive into the lives and accomplishments of the gaming giants, making them the industry's eternal A-listers.
Denise Coates
Denise Coates, the matriarch of gambling royalty, has transcended the humble origins of her family's shop-based chain in Stoke-on-Trent, England, to co-lead the colossal, online, and borderless betting empire that Bet365 has become.
A billionaire CEO alongside her brother John, Coates presides over one of the world's most successful online gambling operators. Not only has Bet365 taken the sports betting and iGaming market in the United States by storm, outperforming established brand names like ESPN Bet, but it has also left a lasting stamp on the industry.
Coates' journey began with purchasing the bet365.com domain in 2000. She secured a £15m loan, pledging the family's physical betting shops as collateral, to fund her vision of the internet's future in gambling. Despite initial challenges, Coates' determination shone through, leading the company to new heights with her string of brave commitments.
Rumors suggest that Bet365 may soon consider a partial or full sell-off, with a public listing in the United States possible. Bet365 currently operates in 13 US markets, having self-funded its expansion. Coates' 58% stake in the company has earned her massive payouts, cementing her status as the most well-paid executive in the industry.
Coates' rare business acumen, exhibited in introducing the in-play feature, which revolutionized betting and enabled real-time bets, sets her apart from even the most successful and longstanding bosses in the field.
Amy Howe
Women's presence in the gambling industry remains modest, but they occupy top-tier positions in leading entities, generating headlines not just for their appointments but for their impressive strides as well.
Amy Howe is a seasoned professional, who broke barriers when she assumed the interim CEO position at FanDuel and later took on the role permanently in 2021. Her tenure has been a success story, with FanDuel becoming the first mobile sports betting company to achieve full-year profitability, although the exact timing of this is debatable.
Rumors in 2021 stated that FanDuel had seized 50% of the sports betting market share in the United States. Although this figure has fluctuated since then due to intense competition from the likes of DraftKings, Howe's leadership continues to steer the company forward.
William Hornbuckle
William Hornbuckle is a household name in the casino industry, currently leading MGM Resorts International with a 30-year tenure under his belt. Apart from his knack for innovation, Hornbuckle's leadership style has been marked by prudence and a balanced approach to implementing change.
His influence on the brand is apparent in the digital transformation of the brand and the launch of BetMGM, which has demonstrated notable resilience compared to initial predictions. Although BetMGM hasn't yet managed to uproot the duopoly of DraftKings and FanDuel, its market share and operational reach continue to expand under Hornbuckle's guidance.
Hornbuckle has prioritized the realization of the MGM Osaka, the first integrated resort in Japan, and pursued a license for a land-based casino in the United Arab Emirates. MGM Resorts International and BetMGM have also focused on responsible gaming initiatives, which involves employee training, self-exclusion, educational resources, and targeted campaigns to spread awareness during Problem Gambling Awareness Month in the United States.
Jason Robins
Jason Robins, the visionary force behind DraftKings, has been a driving force in shaping the gambling landscape. Robins, who is an avid fantasy gambler himself, launched DraftKings in 2012, transforming the company into a tight controller of the regulated gambling market in the United States, boasting a near-monopoly with control over nearly 40% of the betting and gaming verticals.
Robins' adeptness in seizing opportunities enabled him to launch DraftKings' fully regulated sportsbook in New Jersey in 2018, following the overturning of PASPA. Preferring to keep a low profile while still addressing key talking points for the industry, Robins has successfully positioned DraftKings, facing a new wave of challenges posed by sweepstakes social casinos and prediction markets, which have threaten to encroach on the territory of traditional gambling companies and divert revenue.
Fred Done
Fred Done's influence on the gambling industry extends far and wide, through his role as the founder and control of Betfred, the largest company in the United Kingdom. With a humble background, Done transformed his father's illicit bookmaking operation into a legitimate business, opening his first betting shop in 1967.
By the 1980s, Betfred was picking up momentum with more than 70 shops already in operation. Under Done's guidance, the company reached a peak of 1,600 betting shops across the United Kingdom in 2004, exhibiting a mastery of spotting trends and setting their course.
Done is widely credited for implementing the early payout strategy in certain events, allowing bettors to process wagers even before the event's conclusion. Ever the jovial-person, Done has remained a beloved figure in the industry and a pioneer in his field.
Victor Chandler
Victor Chandler, former owner of BetVictor, is another gambling heavyweight, renowned for his strategic shift in relocating the company to Gibraltar and capitalizing on the advantageous taxation and regulatory regime, while still catering to customers from the mainland. This strategic move enabled BetVictor to bypass the UK's 9% betting tax, making it more attractive to bettors and hastening the rise of online gambling.
Chandler's actions are widely seen as a catalyst for the UK government eventually abolishing the betting tax in 2001 and introducing a new regulatory framework in 2004. Although Chandler stepped away from the venture in 2014, his influence persists, as he pivots his focus toward emerging markets in Africa through other gambling ventures.
Teddy Sagi
Teddy Sagi's impact on the gambling industry is substantial, as the founder of Playtech, a company he launched in 1999. Sagi's foresight and dedication to advancing the online sector, covering poker, sports, and casino, have positioned him as a pillar of innovation in the industry.
Playtech's initial public offering on the London Stock Exchange in 1999 marked a significant milestone, achieving a valuation of £550m. Although Sagi gradually divested from the company before finally exiting it in 2017, his influence remains, as he diversified his portfolio with other tech ventures, stocks, and real estate.
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- Denise Coates, one of the industry's most successful CEOs, grew Bet365 from a humble shop-based chain to a borderless, online gambling empire, making her a billionaire and the matriarch of gambling royalty.
- Amy Howe, a trailblazer in the industry, took over as the interim CEO of FanDuel, later becoming permanent and achieving full-year profitability, making headlines and ranking among the leading entities in the sports betting market.
- William Hornbuckle, with a 30-year tenure at MGM Resorts International, has led the digital transformation of the brand, launching BetMGM, and focusing on responsible gaming initiatives.
- Jason Robins, the founder and force behind DraftKings, has shaped the gambling landscape with his innovative strategies, contributing to DraftKings' near-monopoly over nearly 40% of the regulated gambling market in the United States.
- Fred Done, founder and controlling shareholder of Betfred, is credited for implementing the early payout strategy and opening the first betting shop in the United Kingdom, making him a beloved figure and pioneer in the industry.
- Victor Chandler, former owner of BetVictor, moved the company to Gibraltar to bypass the UK's 9% betting tax, catalyzing a shift toward online gambling and eventually contributing to the abolition of the betting tax and the introduction of a new regulatory framework. Teddy Sagi, founder of Playtech, launched the company in 1999 and positioned himself as a pillar of innovation in the online gaming sector, achieving a valuation of £550m in its initial public offering on the London Stock Exchange.
