Paysafe names Zak Cutler as CEO of North America igaming business

Payments platform Paysafe has appointed Zak Cutler as the new CEO of its North America igaming business.
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Payments platform Paysafe has appointed Zak Cutler as the new CEO of its North America igaming business.

Reporting directly to Group CEO Philip McHugh, the newly created executive role forms part of Paysafe’s ongoing strategic focus in the North American igaming vertical, especially as more states in the US regulate online gambling, sports betting, and ilottery.

Commenting on his appointment, Cutler said: “As a former Paysafe customer for many years, I’m thrilled to now have the opportunity to join the team in this capacity. While at Jackpocket and DraftKings, I was always impressed by Paysafe’s industry-leading products, and their foresight to invest in the North American igaming industry long before it was in the mainstream.

“I also admired the team’s ability to develop deep relationships with customers. This approach resonates with my own style and commitment to helping igaming operators grow rapidly through the delivery of outstanding products and unrivaled partnerships. I’m really looking forward to playing my part now as a member of the team – I believe we are in the early innings of a massive opportunity!”

Paysafe’s stated ambition is to be the igaming industry’s payments partner of choice in the US, building on its market leading position in Canada and Europe. The firm currently provides 75% of operators in the country with payments or marketing solutions across 16 states. In Canada, it also holds a leading position and partners with the majority of regulated ilottery and gaming brands.

CEO McHugh stated: “We believe Paysafe has huge potential to win in North American igaming given our track record as the de facto payments specialist in this sector globally.

“Now, with the additional leadership bench strength of Zak at the helm of our highly focused team, we are in a better position than ever to help operators seize the opportunities out there through the delivery of best-in-class payments products and services. Zak is very attuned to operator needs and is highly regarded by all who know him in the industry. He will be a real asset.”

Cutler brings extensive industry experience to the role and a proven track record of driving growth in igaming companies, having held senior leadership roles at both startups as well as large, publicly traded firms.

He joins Paysafe from Jackpocket, an official state lottery ticket purchasing app, where he was VP of Strategy and Product.

Cutler has also worked as Director of Product Management for DraftKings, where he was responsible for all product initiatives related to payment processing, US compliance, and international expansion.