Leading payment provider platform Paysafe announced today that it made a new addition to its managerial team, as Zak Cutler was appointed as CEO, North America iGaming.
“A Real Asset”
The appointment of seasoned iGaming executive Zak Cutler as CEO of Paysafe’s North American online gaming segment marks another effort of the payment provider as it looks to benefit from the rapid expansion of the vertical in the US. The newly created role will report directly to Group CEO Philip McHugh.
Commenting on the new appointment, Paysafe Group CEO Philip McHugh outlined the huge potential the company boasts in the online casino gaming vertical in North America as being the “payments specialist in this sector globally.” He added, “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.”
The North American iGaming vertical continues to show signs of its huge potential as more and more states legalize online casino games, sports betting and iLottery to fuel explosive industry growth and create new business opportunities.
Looking to expand on its presence in Canada and Europe, Paysafe has been consistently aspiring to establish itself as the payments provider of choice for the gaining traction iGaming vertical in the US since the process of legalization commenced in May 2018.
Currently, Paysafe serves the payment needs of 75% of operators across 16 states, while in Canada, it holds a leading position on the market via partnerships with the majority of gaming and iLottery brands.
Extensive iGaming Experience
Cutler, who joins from innovative state lottery ticket selling app Jackpocket, brings extensive industry experience, having held senior leadership roles and steered businesses to growth. As VP of Strategy and Product at Jackpocket, Cutler was responsible for the product strategy and delivery and achieved an expansion of the app across ten US jurisdictions, bringing millions of new customers for iLottery products to the platform in the process, while partnering with industry-leading brands like Barstool Sports.
Commenting on his new role, Culter expressed his content at the opportunity to “join the team in this capacity,” being impressed by Paysafe’s products, “foresight” to invest in the vertical before it gained popularity and its “ability to develop deep relationship 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!”Zak Cutler, CEO, North America iGaming, Paysafe
Prior to his role at Jackpocket, Cutler served as director of product management at DraftKings, where he was charged with aspects of product initiatives like payment processing, compliance and expansion.
Zak Cutler becomes the latest high-profile addition at Paysafe Group, following the appointment of Chirag Patel at the Skrill and Netteller group divisions last month.