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Revolutionary wage management app fastPAYE launches after high-profile gaming industry investment

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‘Game-changing’ zero interest application lets staff drawdown salary early to ease financial pressures; service boosts staff satisfaction for gaming industry employers

fastPAYE, the flexible wage application for the modern workforce, has launched to provide a ground-breaking salary drawdown service that enables gaming businesses to pay staff what they’ve earned early.

Backed by staff scheduling solution ShopWorks, which supplies Grosvenor Casinos, Mecca, Betfred and Paddy Power, and whose chairman is gaming industry veteran Ian Hogg, fastPAYE provides a transparent wage management system that significantly improves employee satisfaction and loyalty.

The initial funding round involved high-profile industry investors, including Mark Blandford, founder of SportingBet, 888 Holding’s chairman Brian Mattingley and the Racing Post’s chief executive and chief editor Alan Byrne, as well as business heavyweights Sir Terry Leahy and Bill Currie.

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Unlike other providers on the fast-growing “wage-on-demand” market, employers don’t need credit to pay staff early. fastPAYE’s unique model enables businesses to offer drawdowns before payday based on hours worked via a dedicated safeguard account with Starling Bank, facilitating instant fund transfers and maximum cashflow management with no impact on existing payroll.

fastPAYE research shows that 78% of employees struggle to make funds stretch over the month, particularly in January when those paid before Christmas experience the longest pay gap of the year. When unexpected living expenses arise, many are forced to rely on payday loan, overdraft and credit card alternatives that costs households thousands in interest payments. In 2018, 10 million pay day loans were taken in the UK.

fastPAYE is designed to give staff greater control over their salaries when they need it most to ease money-related stress. With sister company ShopWorks, which has a proven expertise in creating effective workplace technologies utilised by over 150,000 users, fastPAYE is uniquely positioned to take the gaming industry by storm with its cost efficient and flexible model.

Commenting on the launch of fastPAYE, Ian Hogg, chairman of fastPAYE, said: “Through years of experience working with major gaming industry brands as clients of ShopWorks, we understand the pressures caused by the outdated monthly wage system on the sector and how it needs to change.

“Attracting investment from industry stalwarts such as Mark Blandford, Brian Mattingley and Alan Byrne is testament to the value fastPAYE brings to casino and betting businesses and their staff, providing a system that is easy to adopt for all parties and that boosts employee retention.

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“We’re letting people access what they’re owed, while at the same time providing employers with a wage management tool that is fast and easy to integrate, and that makes their business a more attractive place to work.”

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Blake Sartini

Golden Entertainment Announces Leadership Changes

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Golden Entertainment Inc. announced that effective March 20, 2024, Blake Sartini II, Golden’s Executive Vice President of Operations, became the Company’s Chief Operating Officer.

“Blake has worked in every capacity throughout our organization since he started at Golden almost 17 years ago. His unique knowledge of our Company’s culture, commitment to operational excellence, and strong leadership skills make him the ideal individual to be given responsibility for all our Nevada casino resorts, locals properties, tavern operations and related corporate functions,” Blake Sartini, Chairman and CEO of Golden, said.

Blake Sartini II initially joined Golden in June 2007, working with Golden’s tavern operations and building what is now the largest branded tavern portfolio in Nevada with 69 locations. Currently, as Executive Vice President of Operations, in addition to oversight of Golden’s taverns, he has direct responsibility for the Company’s five local casinos in Las Vegas and Pahrump.

Steve Arcana, Golden’s current Chief Operating Officer, became the Company’s Chief Development Officer also effective March 20, 2024. In this newly created role, Mr. Arcana will be responsible for all new tavern development, finding new third-party food and beverage concepts for the Company’s casino resorts, and exploring opportunities to unlock value in the Company’s excess real estate in Las Vegas, Laughlin and Pahrump. Mr. Arcana initially joined Golden in 2003 and has overseen the Company’s operations as it has grown from a privately held, 900-slot machine route operation to a publicly traded gaming company with casinos in Las Vegas, Laughlin and Pahrump in addition to its significant tavern portfolio.

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“Steve has been with Golden for over 20 years and has been an integral part of growing our business and guiding us through many challenges. Steve has established a strong operating team and has been a consistent leader throughout his decades at Golden. His long history and extensive experience in the industry will continue to benefit the Company in his new role focused on creating value from new tavern development and unused assets in our casino portfolio,” Mr. Sartini said.

“These management changes will allow Golden to focus on maximizing performance in our core operations while exploring opportunities to drive future improvement by bringing potential new concepts to our existing portfolio. I am confident the changes to Blake and Steve’s roles with the Company will position us well to create additional shareholder value,” Mr. Sartini added.

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Barclays Capital Inc

MGM Resorts International Announces Proposed Senior Notes Offering

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MGM Resorts International announced that it proposes to offer $750,000,000 in aggregate principal amount of senior notes due 2032.

The Company intends to use the net proceeds from the offering of the notes to repay existing indebtedness, including its outstanding 6.750% senior notes due 2025. Pending such use, the Company may invest the net proceeds in short-term interest-bearing accounts, securities, or similar investments.

The notes being offered will be general unsecured senior obligations of the Company, guaranteed by substantially all of the Company’s wholly-owned domestic subsidiaries that guarantee the Company’s other senior indebtedness, and equal in right of payment with all existing or future senior unsecured indebtedness of the Company and each guarantor.

Deutsche Bank Securities Inc., BofA Securities, Inc., Barclays Capital Inc., BNP Paribas Securities Corp., Citigroup Global Markets Inc., Citizens JMP Securities, LLC, Fifth Third Securities, Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Scotia Capital (USA) Inc., SMBC Nikko Securities America, Inc., and Truist Securities, Inc. will act as joint book-running managers and Goldman Sachs & Co. LLC, PNC Capital Markets LLC, U.S. Bancorp Investments, Inc., and Wells Fargo Securities, LLC will act as co-managers for the proposed offering.

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The Nomination Committee’s Proposal of Catena Media’s Board of Directors at the Annual General Meeting 2024

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The Nomination Committee of Catena Media proposed re-election of the following members of the Board of Directors:

Øystein Engebretsen

Theodore Bergquist

Adam Krejcik

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Sean Hurley

The Nomination Committee proposed that Erik Flinck and Dan Castillo be elected as new members of the Board of Directors.

Göran Blomberg, Esther Teixeira-Boucher and Austin Malcomb have declined re-election as board members.

The Nomination Committee proposed that there will be six (6) members of the Board of Directors, changed from seven (7).

The Nomination Committee also proposed Erik Flinck to be elected as Chairman of the Board of Directors.

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Erik Flinck, born in 1980, currently provides high end business consulting combined with serving as Chairman for the digital health startup, dr HUD. Mr Flinck previously served as Head of BCG Sweden and has extensive experience from corporate management, growth and turnarounds from nearly 20 years of Management Consulting and serving as Head of Group Strategy and M&A at Sandvik AB. He has a Masters Degree in Engineering (Software development and Financial Mathematics) from the Royal Institute of Technology in Stockholm and a Masters Degree in Business and Administration from Stockholm University and Stockholm School of Business.

Born in 1980, Dan Castillo has accumulated over 20 years of experience across startups, growth companies and turnarounds. Since 2015, Castillo has invested in Catena Media, maintaining a close watch on its progression, especially after its IPO in 2016. He has previous experience of listed board work in Kotipizza which Orkla acquired in 2018. He currently serves on the boards of five companies in different sectors, including Quartr.com in Fintech and Hope Studios in movie production. His academic background includes studies in Finance and Economics at Linköping University.

The Nomination Committee of Catena Media consists of:

Nicklas Paulson, representing Investment AB Öresund (chair of the nomination committee)

Marianne Stenberg, representing Second Swedish National Pension Fund

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Martin Zetterlund, representing Niklas Karlsson

Göran Blomberg, chairman of the board of Catena Media.

The post The Nomination Committee’s Proposal of Catena Media’s Board of Directors at the Annual General Meeting 2024 appeared first on European Gaming Industry News.

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