By BBBB
Baccellieri has 20 years of experience “behind the counter” running sports and race books and is a well known and respected expert on the subject. He most recently served as the Race and Sports Director for the Palms Hotel and Casino where he was responsible for overseeing all sports and race operations, including Rapid Bet Live. Previously, Baccellieri held similar positions with Caesars Palace and the MGM Grand as well as with sports book operations in Costa Rica.
He will provide additional expertise to the company for expanding its consultative services to operators, government agencies and regulators who are looking to adopt new innovative sports wagering systems such as Rapid Bet Live. Deploying and managing regulated sports proposition wagering systems through fixed terminals and wireless devices requires extensive review and modification of casino business processes and internal controls. His experience will help ensure compliance with wireless and system based wagering regulations to minimize the risk management profile for new operators.
The recent approval of Rapid Bet Live in the Bahamas gives the company four strategic legalized and regulated markets for its multiple sport wagering applications: Nevada, Canada, Macau and now, the Bahamas.
Baccellieri stated, “I am excited to lead the efforts to change the face of sport betting with Progressive Gaming. In my 20 years in the business I have yet to see another product which has the ability to add incremental revenue to the sports book by attracting new demographics and adding to the player experience. The innovative technology that Progressive has developed into Rapid Bet Live and PrimeLine combined with the strategic partnership with the mobile sport’s applications of Cantor Gaming puts us in a great position going forward.”
Progressive Gaming’s President and CEO, Russ McMeekin, stated, “Richie is an outstanding addition to our team and we are very excited to have him join us. Earlier this month we provided revenue guidance in which we indicated that minimal revenues were assumed for our server based applications including Rapid Bet Live.”
Then he added: “We believe that the addition of Richie to our organization will help us better consult with operators, government agencies and regulators to implement the necessary processes and procedures to profitably run their new sports systems. We expect that this initiative may afford revenue opportunities for this year and materially in 2008 and beyond.”
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