From Acquisitions to Burnout: Gambling Leaders Share Hard Truths About Scaling

_{Panelists discussed Acquisitions, mergers and burnout. (Image: Artur Marciniec/Alamy)}

A panel of gambling industry leaders gathered to discuss one of the toughest challenges facing fast-growing companies: how to lead teams through mergers, acquisitions, rapid scaling, and burnout. The discussion took place March 11 at the NEXT Summit in New York.

The discussion is particularly relevant for online casino and betting operators, where rapid expansion, platform acquisitions, and new market entries have become standard growth strategies in an increasingly competitive global market.

The session brought together executives with decades of experience across the betting and technology sectors, including Joe Asher, ET Partner SB22; Paris Smith, former Pinnacle CEO and Sports Gambling Hall of Fame inductee; Vlastimil Venclík, of Realms Group; and Bukki Osifeso, founder and CEO of HR consultancy Tag Team and Rickard Vikström Founder and CEO of Internet Vikings.

Moderating the discussion was Emily Haruko, CEO and founder of Soroka.

_{Panel moderator Emily Haruko. (Image: Emily Haruko/Linkedin)}

Across the conversation, one theme surfaced repeatedly: transparency with employees is often the difference between successful transitions and organisational breakdown.

The Uncertainty Between Signing and Closing

Mergers and acquisitions often appear straightforward on paper. In practice, leaders say the period between announcing a deal and closing it can be the most difficult phase for employees.

Joe Asher, who helped scale William Hill’s US business before its sale to Caesars Entertainment, said uncertainty can quickly spread through a company if leaders do not communicate clearly.

Asher said employees often fear layoffs or major structural changes, even when leadership tries to reassure them.

“No matter how much you try to comfort people, I think inherently it’s difficult time. I think being open and communicative with your team is really critical during that period of time in particular.”

The comment highlights a common issue during corporate acquisitions. Studies in organisational management show employee productivity and retention often decline when communication from leadership becomes unclear during major transitions.

Transparency vs. Over-Sharing

While executives frequently call for transparency, leaders sometimes struggle to determine how much information to share during sensitive corporate negotiations.

Paris Smith argued honesty should rarely be limited.

“I don’t think you can be too transparent because it will always come back and haunt if you don’t have that honesty.”

Smith said acquisitions frequently look attractive from a financial perspective but fail to account for the cultural and personal dynamics that emerge when companies merge.

“You always think that it’s the bullshit bingo where synergy is the number one word. And it makes so much sense on paper, but when you start putting personalities together. When people are doing acquisitions the one thing they don’t think about is personality, it just doesn’t really always work out that way.”

Her comments reflect broader research showing cultural integration is often one of the leading causes of merger failure.

Integration Problems Often Appear After the Deal

Even when acquisitions appear strategically sound, operational challenges can emerge months after closing.

Rickard Vikström said one of the most common problems is the lack of a clear integration plan once two companies combine operations.

“The problem was that no one during integration, had a clue what to do, how to sign for invoices, how to sign for a lunch, how to do payments.”

Vikström said that even small operational gaps can stall progress.

“Once again, we’re hitting that friction when it comes to integration and that fear that can get stirred up a little bit when changes are announced.”

Industry analysts frequently note that post-merger integration planning should begin before a deal closes. Without it, companies can spend years rebuilding momentum.

When Protecting Staff Becomes Gatekeeping

Bukky Osifeso, whose firm advises businesses on workplace culture and HR strategy, said leaders sometimes delay sharing information with employees because they believe they are protecting them.

In reality, she said that approach can backfire.

“When I think about gatekeeping and holding information, it’s not intentional. Some of it is unintended, right? We don’t want to hurt the employees feelings. We want to make sure we get it right first before we announce.”

Osifeso said leaders should communicate early, even if they do not yet have every answer.

“It’s also OK to say, I don’t know… I will tell you all the information that you need to know to do your job and make educated decisions.”

She added that withholding information for too long can undermine employee trust and decision-making.

Scaling a Company Often Changes the Team

Rapid growth can create another leadership challenge: the people who helped build a company may not always be suited to the next phase of its development.

Venclík said scaling from startup to large organisation often requires new skill sets.

“Some people are good for the smaller phase of the companies. Some people don’t have the skill to do it you need to hire different people.”

But replacing staff or restructuring teams requires transparency to avoid resentment and confusion.

“You need to be very transparent with people and try to find their strengths and explain to them what are we doing, why we are doing that.”

Burnout Can Signal Bigger Problems

Another major theme during the discussion was burnout among leadership teams and employees.

Asher said one effective approach is to understand employees as individuals rather than simply focusing on performance metrics.

“A big thing is trying to understand folks on your team in a personal way, and the only way you do that is by devoting the time to getting to know them.”

He added that small gestures can help employees maintain balance during demanding periods.

“Try to find a way to integrate something that’s special to them into what we were doing.”

However, Osifeso noted burnout can sometimes signal deeper disagreement with the direction of the company rather than simple exhaustion.

Osifeso said identifying that distinction quickly can help organisations move forward more effectively.

Delivering Hard News During Transitions

Paris Smith shared one of the toughest leadership moments of her career during the acquisition of World Wide Tele Sports (WWTS).

The acquiring company required the workforce to be reduced by nearly 80 employees.

Instead of immediately selecting staff to lay off, Smith asked employees to volunteer if they felt ready to move on.

“So what I would love to do is see if there’s volunteers that would be willing to give up this job.”

The response surprised her.

“I had about 74 people say I work in the bank. I was doing that just to buy a car. And I have my car. I’m good now.”

The approach reduced the number of forced layoffs and helped the organisation navigate the transition with less disruption.

Humane Leadership Under Investor Pressure

Executives also discussed the pressure leaders face from investors during times of rapid change.

Despite those pressures, Asher argued leaders must remain focused on their workforce.

“Without the team of people, you really don’t have a business.”

He said leaders sometimes need to push back against investor demands when they conflict with employee stability.

“The product is ultimately a function of the people.”

Vikström was asked about dealing with similar situations. He said that there was a psychological cost of acquisition.  He gave an example where it took  a company 3 years to get back on track after acquiring a smaller company. He said:

"The problem is that people think that because they are acquiring company everything will be good. You need a plan and you need to make sure that the person responsible for the plan doesn't leave after two months."

Financial Logic is Clear

The global sports betting and gaming industry has seen a wave of consolidation in recent years, particularly following the expansion of regulated sports betting markets in the United States and Europe.

Companies continue to acquire technology providers, betting platforms, and data firms in an effort to scale quickly.

Industry veterans say the financial logic behind these deals is often clear. The real challenge comes afterward: integrating teams, maintaining trust, and navigating organisational change without losing talent.