PointsBet appoints new non-executive director to board

People News

PointsBet Holdings has announced that Mr William Grounds has been nominated by the Board as an independent Non-Executive Director, effective today.

Mr Grounds, who resides in Las Vegas, Nevada and is a dual Australian and United States citizen, is a seasoned senior executive and board member with a successful track record of managing businesses across geographies and in diverse industry sectors, including highly regulated environments.

He is the former President and Chief Operating Officer of Infinity World Development Corp., an affiliate of Dubai World where he was responsible for managing the Group’s US$7 billion investment in CityCenter Resort & Casino in Las Vegas with joint venture partner MGM Resorts International (NYSE:MGM) and substantial shareholding in MGM Resorts International.

Mr Grounds also served as a Non-Executive Director of MGM Resorts International between 2013 and 2021, during which time PASPA was repealed and the BetMGM joint venture was formed. Mr Grounds has a deep understanding of the United States sports betting and iGaming market, having been a Director during the establishment of the BetMGM joint venture, including providing ongoing governance and oversight of its strategy and execution.

He has also been licenced in a number of gaming jurisdictions in the United States.

Mr Grounds is currently a director of Consumer Portfolio Services and is also a former director of MGM Resorts International and Remark Holdings, as well as Fontainebleau Miami JV LLC, CityCenter Holdings LLC and Infinity World Development Corp.

PointsBet Chairman Mr Brett Paton said, “We welcome William Grounds and look forward to his contribution as an independent non-executive director. William has tremendous international business and governance experience, with particular strengths in the areas of US sports betting, gaming and casino. Further, adding an additional US- based director ensures we continue to have the appropriate level of governance and oversight on the ground in the expanding and ever evolving North American market.”