The results of Chartwell Games most recent financial results were less than impressive to put it mildly. Q1 2011 results didn’t exactly make anyone’s day and were highlighted by losses and a net loss for the three months ending Jan 31 2011 at $1.9m; an increase that amounted to $796k difference for the same period a year ago.
The company has switched gears with a new CEO after former CEO Dan Phillips stepped down from his role to pursue other opportunities on the operations side of the iGaming industry.
Phillips spent 8 years working in the online gaming division of Gala Coral, including the position of gaming director, but was only the CEO for Chartwell for a little over a calendar year after assuming the role of CEO in January 2010.
“We wish Dan well for the future, and thank him for the contribution he has made to the company,” said Dave Acorn, Chartwell’s chief operating officer who will be taking over Phillips day-to-day role until the company names a replacement.
This comes at a time when Chartwell Games is trying to find its new direction. It may have found it with its most recent launch of its 25-line slot game.
Clinton Begin, VP Software Development of Chartwell states in the release, “This new technology is the latest step in Chartwell’s strategic plan to continue to focus on its exciting online casino offering and increase the volume of game output throughout 2011 and beyond. RGD can integrate directly with the Chartwell Games Platform and top third-party game content, thus positioning Chartwell to take a leading role in providing Platform as a Service solutions to the iGaming industry.”