Paysafe Appoints Zak Cutler to Lead Its North America iGaming Business
September 15 2021 - 04:00AM
Business Wire
Former Jackpocket and DraftKings executive
brings additional iGaming expertise and deep industry relationships
to Paysafe
Paysafe (NYSE:PSFE), a leading specialized payments platform,
today announced it has appointed seasoned iGaming executive, Zak
Cutler, as CEO, North America iGaming. The newly created executive
role, which reports directly into Group CEO, Philip McHugh, forms
part of Paysafe’s ongoing strategic focus in the North American
iGaming vertical which continues to show explosive growth as more
and more states in the U.S. regulate online gambling, sports
betting and iLottery.
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the full release here:
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Zak Cutler, CEO, North America iGaming at
Paysafe (Photo: Business Wire)
Since the rapid legalization of the U.S. sports betting market
starting May 2018, Paysafe has consistently stated its ambitions to
be the iGaming industry’s payments partner of choice, building on
its leadership in Canada and Europe. The company now provides 75%
of operators in the country with payments or marketing solutions
across 16 states. In Canada, Paysafe also holds a leading position
and partners with the majority of regulated iLottery and gaming
brands.
Cutler brings extensive industry experience to the role and a
proven track record of driving growth in iGaming companies; he has
held senior leadership roles at both starts ups as well as large,
publicly traded companies. He joins Paysafe from Jackpocket, an
innovative app that enables people to buy official state lottery
tickets online, where he was VP of Strategy and Product. As one of
Jackpocket’s first executive hires, he was responsible for
developing the strategy, the product and the approach that enabled
Jackpocket to swiftly expand into 10 U.S. jurisdictions, achieving
a #7 entertainment app store ranking, and acquiring millions of new
lottery customers in the process. While there, he also worked with
celebrities, sports teams, and large media brands such as Barstool
Sports to successfully grow Jackpocket’s brand presence nationally.
Before that, Cutler worked as Director of Product Management for
DraftKings, one of the world’s best-known brands in sports
entertainment and gaming, where he was responsible for all product
initiatives related to payment processing, U.S. compliance, and
international expansion.
Philip McHugh, Paysafe’s CEO, commented: “We believe Paysafe has
huge potential to win in North American iGaming given our track
record as the de facto payments specialist in this sector globally.
Now, with the additional leadership bench strength of Zak at the
helm of our highly focused team, we are in a better position than
ever to help operators seize the opportunities out there through
the delivery of best-in-class payments products and services. Zak
is very attuned to operator needs and is highly regarded by all who
know him in the industry. He will be a real asset.”
Zak Cutler commented: “As a former Paysafe customer for many
years, I’m thrilled to now have the opportunity to join the team in
this capacity. While at Jackpocket and DraftKings, I was always
impressed by Paysafe’s industry-leading products, and their
foresight to invest in the North American iGaming industry long
before it was in the mainstream. I also admired the team’s ability
to develop deep relationships with customers. This approach
resonates with my own style and commitment to helping iGaming
operators grow rapidly through the delivery of outstanding products
and unrivalled partnership. I’m really looking forward to playing
my part now as a member of the team - I believe we are in the early
innings of a massive opportunity!”
About Paysafe Limited
Paysafe Limited (“Paysafe”) (NYSE: PSFE) (PSFE.WS) is a leading
specialized payments platform. Its core purpose is to enable
businesses and consumers to connect and transact seamlessly through
industry-leading capabilities in payment processing, digital
wallet, and online cash solutions. With over 20 years of online
payment experience, an annualized transactional volume of U.S. $100
billion in 2020, and approximately 3,400 employees located in 12+
global locations, Paysafe connects businesses and consumers across
70 payment types in over 40 currencies around the world. Delivered
through an integrated platform, Paysafe solutions are geared toward
mobile-initiated transactions, real-time analytics and the
convergence between brick-and-mortar and online payments. Further
information is available at www.paysafe.com.
About Paysafe iGaming
Paysafe brings over two decades of specialized payments
experience supporting the global iGaming and sports-betting sectors
and provides operators with a comprehensive suite of traditional
and alternative payment methods through a single, streamlined API
integration. Paysafe is also a leader in digital and affiliate
marketing technology and services for iGaming operators through its
Income Access business unit.
Since the opening up of the US iGaming market in May 2018,
Paysafe has consistently stated its ambitions to be the payments
leader in the fast-growing sector, building on its leadership in
Canada and Europe. The company now supports 75% of operators in the
country with payments or marketing solutions across 16 different
states. In Canada, Paysafe also has a leading position and partners
with the majority of regulated iLottery and gaming brands.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210915005421/en/
Media enquiries: Kate Aldridge kate.aldridge@paysafe.com
+44 750 079 7547
Investor enquiries: Kirsten Nielsen
kirsten.nielsen@paysafe.com +1 (646) 901-3140
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