Odds narrow for interims as US gambling boom beckons
The starting gun has sounded and the race is well and truly on. The Supreme Court’s landmark decision to legalise sports betting has sparked a stampede for talent. As the gambling industry leaps to capitalise on the Atlantic growth opportunity, interims are likely to lead the charge.
The move to strike down the federal law that banned sports gambling could be considered as one of the most transformational moments in the sector’s history. The news demonstrates how quickly market conditions can change.
Just days before, the tightening of regulation over fixed-odds betting terminals offered a reminder of the pressures that the UK gambling industry is facing domestically. Of course, bookmakers are conscious of the role they must play in protecting against problem gambling, but also consider how best to embrace technology and use it responsibly. All of which, while vitally important, has shifted attention from growth.
Within a week, the tables have turned. Challenges remain in mature markets, yet the opening of the US market has the potential to really whip the industry into expansion mode and offer some positivity for boardrooms to rally behind.
Almost immediately, the biggest names in the industry were activating networks and growth plans in the US. The urgent need to be first in such a potentially lucrative market will have a monumental impact on the UK’s domestic talent pool.
Firstly, this demand has the potential to kickstart a ‘brain drain’ from the UK and Europe. This includes permanent roles as professionals are lured to the US for a new challenge and attractive remuneration packages.
But, the most urgent market chatter has been about interim opportunities. Firms are reaching out for interim managers that can be deployed quickly to the US to get operations off-the-ground. Technology, digital, marketing and Customer Relationship Management (CRM) experience is evidently in high-demand – all of which are areas that are crucial in securing new customers and supporting product development.
However, as companies look to expand internationally and move their own resources to the US, there are also positions left vacant at home. In the UK, regulation and the rising threat of further reform is making the job much harder for companies, particularly in the field of innovation and product development.
On top of this, market consolidation is gaining momentum, as we have seen in recent years. Not to mention potential disruption across Europe following Brexit. As such, we’ve already seen an uplift in enquiries to bring in interims to back fill these roles while leadership teams focus on new ventures overseas.
They might be too late for the Kentucky Derby, but the World Cup is just around the corner, alongside the culmination of the NBA and NHL Playoffs, and the US Open over the Summer. Plans will be well underway to get mobilised for these events and capitalise on the change in regulation.
Short-term, experienced and flexible resource will be just the ticket to help deliver such a tight turnaround. For interims, this presents the perfect chance to ply their trade abroad or to step in and steady the ship for organisations closer to home.