Ipad point of sale company Revel Systems has lost its CEO after a buyout from investment firm Welsh Carson.

Founder Lisa Falzone has been replaced by Scott Betts, former CEO of casino tech firm Everi, under its previous name Global Cash Access. Betts said

“I am very excited to join the Revel team and continue Lisa’s and Chris’ great work in building and delivering an outstanding solution and superior business value to our clients”

Falzone’s comment on the deal was a tad more muted;

“Revel’s mission has always been to make business owners’ and operators’ lives easier and more efficient – spurring entrepreneurship and leading the industry with excellent features and functionality. Keeping customers and their success at the forefront will always be core to the organization”

The real reasons behind the move could be based on Welsh Carson’s ambitions for a step change towards profitability, or it could be a reaction to troubling lawsuits from staff regarding overtime payments and, in one case, allegations that an employee with cancer was pressurised to resign.

Whatever the reasons, the old guard is out in what looks like an investor led coup. Founders Falzone and Chris Ciabarra will no doubt be consoling themselves with a healthy wedge of Welsh Carson cash.

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