Alvarez & Marsal hires Adam Rivers as managing director
Alvarez & Marsal has named Adam Rivers as a managing partner in its UK wing. He will now head up the firm’s gaming sector team.
Ed Bignold, head of Alvarez & Marsal’s travel, hospitality and leisure Practice, commented, “Adam's arrival could not be more timely. With his wealth of experience and extensive knowledge of the market, Adam is well-equipped to build on our work to-date and grow our offer across the world. As A&M's THL practice continues its expansion, we are uniquely positioned to offer our clients a global perspective and entrepreneurial approach to help address their needs.”
The UK’s betting and gaming industry is expanding rapidly. A&M is working with clients from operators and regulators, who require advice to react to and make the most of the opportunity. As a managing director heading up the team, Adam Rivers will leverage his experience in regulatory, strategic, and compliance advisory, acting for both public and private sector clients.
Rivers joins A&M from KPMG, where he led the firm’s gambling sector consultancy work. His work covered a broad range of disciplines, including commercial strategy and complex analytics, regulatory strategy and policy development, regulatory compliance and commercial due diligence in M&A. He is a renowned thought leader in the sector and regular speaker at conferences across the globe.
Speaking on the news, Rivers added, “I'm delighted to be spearheading A&M’s betting and gaming offer from the London office. The firm’s unique global platform, which is independent and free of certain conflicts, will enable us to continue developing our market-leading practice.”
As the gambling industry undergoes “rapid evolution”, Rivers also noted that A&M’s clients “are grappling with a myriad of challenges, including regulatory shifts, technological advancements and changing consumer behaviour”. He noted that it would be “crucial for companies in the sector to adapt to these changes, to help maintain their performance and position themselves for long-term success and profitability”.
UK’s gambling habit
The UK gambling industry is one of the largest markets in the world, generating approximately £14.2 billion in 2020 alone. Part of the “rapid evolution” of the sector has seen it account for 40% of shirt sponsors in the Premier League. Amid a growing number of high-profile cases in which footballers themselves have become addicted to gambling, concern for the wider population has led to calls for wider rules on where gambling can be advertised.
In a bid to avoid market intervention, the Premier League has announced action against gambling sponsorship. The league agreed with its clubs to ban gambling companies from being on 'the front of match day shirts' – stating the rule would come into play from the end of the 2025/26 season, to “assist clubs with their transition away” from gambling front-of-shirt sponsors. For some, that may be too little, too late, though.
According to the UK Gambling Commission’s latest figures, as many as 1.3 million adults in Great Britain suffer from problem betting. That is eight-times higher than previously estimated.
