In an industry where leadership is as much about vision as it is about oversight, gaming giant SkyCity Entertainment Group has marked a new chapter in its corporate saga by announcing Jason Walbridge as its incoming Chief Executive Officer (CEO). Walbridge, whose tenure is slated to commence in July of this year, is stepping into the role pending the necessary regulatory approvals in New Zealand.
Bringing with him a wealth of experience amassed over two decades in the gambling industry, Walbridge, who most recently held a strategic advisor position at Bridge Gaming, also chairs the National Entertainment Network in the United States. This varied experience in the gaming sphere is further bolstered by his previous tenure as Chief Operating Officer (COO) for SG Digital, the digital division of Scientific Games, which now operates under the Light & Wonder name following a rebrand. During his time at NYX Gaming Group—which was later acquired by Light & Wonder in 2018—Walbridge also served as COO.
Perhaps the most notable highlight of Walbridge’s extensive career is his 18-year tenure at Aristocrat Leisure. Here, he distinguished himself in a succession of high-ranking roles, with notable positions including Chief Supply Officer and Managing Director for the regions of Europe, Middle East, and Africa.
Joining SkyCity, Walbridge fills the void left by Michael Ahearne, who departed the business last month. Ahearne’s forthcoming exit was originally announced in October of the previous year. In the interim period leading up to Walbridge’s expected July start date, Callum Mallet, COO of SkyCity New Zealand, is performing the CEO duties.
Upon the announcement of his appointment, Walbridge expressed enthusiasm and commitment to his new role, stating, “It will be a privilege to lead SkyCity. I am excited to be joining the business at this time as SkyCity looks to pursue the many opportunities ahead of it.” Equally enthusiastic about the new leadership, SkyCity chair Julian Cook remarked on the extensive global expertise Walbridge brings, especially from the land-based and online gaming industries, a combination which is anticipated to serve the company well through forthcoming challenges and growth phases.
This CEO appointment signifies a period of notable executive team changes at SkyCity. In a related development, Julie Amey, who served as the company’s Chief Financial Officer (CFO), announced her resignation last month. Amey, who stepped into the gambling industry for the first time with SkyCity in May 2021, will continue her duties until her official departure on the 25th of September. Though her reasoning for resigning has not been disclosed, her exit marks another seat to be filled in SkyCity’s corporate suite.
Adding to the shuffle, Andrew McPherson has been confirmed as the full-time Chief Information Officer (CIO) after serving an interim period since last November. These executive reshuffles come at a time when SkyCity is facing heightened scrutiny from regulatory bodies.
Recently, it was confirmed that the operator is on the receiving end of civil penalty proceedings in New Zealand, with its subsidiary, SkyCity Casino Management (SCML), being implicated. The Department of Internal Affairs has filed proceedings in the high court, citing SCML’s alleged non-compliance with the Anti-Money Laundering and Countering Financing of Terrorism Act 2009. The potential repercussions could be severe, with penalties reaching up to NZ$8.0 million if the claims are substantiated.
According to SkyCity, most of the identified compliance issues were of a historical nature, with some having been self-reported to the department in the past. The SCML operates SkyCity’s brick-and-mortar casinos in Auckland, Hamilton, and Queensland.
SkyCity’s challenges aren’t confined to the New Zealand market; across the Tasman Sea, the company has faced issues in Australia as well. Federal proceedings were initiated by the Australian Transaction Reports and Analysis Centre concerning anti-money laundering deficiencies at the SkyCity Adelaide facility. Furthermore, in 2023, ahead of an expected civil penalty, SkyCity warned that its adjusted EBITDA for the financial year 2024 might dip, despite prior predictions of a prospective increase.
With Walbridge at the helm, SkyCity looks forward to leveraging its new CEO’s deep industry experience and leadership qualities as it navigates both the opportunities and the complexities of the evolving gambling sector.
