PrizePicks names new head of corporate development and investor relations
Company stalwart Steven Kerstein steps up to lead department as DFS firm continues on growth journey
PrizePicks has promoted Steven Kerstein to become the DFS operator’s new head of corporate development and investor relations.
Kerstein takes up the new role after two years as the firm’s head of company relations and market intelligence.
EGR understands the promotion comes as the business continues to grow, with Kerstein moving up to lead the department.
Despite his title including an aspect of investor relations, EGR also understands there are no current plans for a public listing for the Atlanta-headquartered company.
A chartered financial analyst, Kerstein previously had a three-and-a-half-year spell with Lincoln Churchill Advisors.
He also counts analyst roles with Cortland Capital Market Services and Game Sports Network during his career.
Kerstein’s appointment comes amid a wave of intensifying scrutiny on PrizePicks and fellow DFS operators in the shape of Underdog Fantasy and Sleeper.
However, the increase in attention has also drawn the ire of state regulators, with PrizePicks having exited the likes of Michigan, West Virginia, and Maryland last year.
Maine, Florida, and New York regulators have all weighed in on the debate, with concerns raised over the so-called pick’em model effectively being player prop betting against the house masquerading as fantasy sports.
The pick’em operators insist their offerings are permitted as part of the fantasy sports carveout from the UIGEA signed in 2006.
Arnold Ash is EGR’s Executive Recruitment Partner. They support ambitious organisations to identify and attract industry leading executive talent. Find out more here.