Gaming Innovation Group appoints Platform & Sportsbook CEO

(PRESS RELEASE) -- Gaming Innovation Group Inc. (GiG) announced the appointment of Richard Carter as Platform & Sportsbook CEO. The appointment will secure a strong and experienced leader for its Platform & Sportsbook division ahead of the planned split of the Company into two separate companies.

GiG initiated a strategic review earlier this year with the intention to split the company into two separate companies, in order to fully optimize growth opportunities and ensure each business can benefit from the strategic and financial flexibility of their distinctive business models. The split will form two industry leading businesses with the potential to grow faster than in the current corporate structure.

Carter has strong experience from the iGaming industry, being CEO of SBTech for close to five years where he led the company’s merger with digital sports entertainment and gaming company DraftKings through a three-way deal with Diamond Eagle Acquisition Corp in April 2020 and recently as CEO of Bragg; a Nasdaq and TSX listed online casino and gaming platform provider. These positions have given Mr Carter a strong knowledge of GiG’s core markets and industry needs. Prior to SBTech, he was a Director of Research at Deutsche Bank, responsible for leading their highly rated Pan-European Gaming Equity Research franchise.

The appointment of Carter comes after an extensive evaluation and selection process to identify the right candidate to position GiG’s Platform & Sportsbook division for future growth. An accomplished and inspiring leader, Carter brings a wealth of industry knowledge coupled with a strong and proven track record of operational execution and driving profitable growth in regulated online gaming markets. Carter will join GiG on 18 September 2023.

Carter will be responsible for the positioning of GiG’s Platform & Sportsbook division in the global, regulated iGaming market, building on the strong position GiG already has as a supplier of its proprietary technology via Software-as-a-Service solutions to more than 40 clients in 35+ markets. In addition, Mr Carter will be tasked with transforming the division into a stand-alone, publicly listed SaaS company, aligning people, technology, product, and process development to drive innovation and execution across all verticals.

“I am delighted to become the Platform & Sportsbook CEO of GiG at such an exciting time in the Group’s development,” said Carter. “With its outstanding data led proprietary technology platform, sector leading regulated market coverage and diverse product portfolio, the GiG Platform is exceptionally well positioned to maintain its recent strong growth momentum.”

“I can’t wait to get started and am very much looking forward to working with the GiG Platform & Sportsbook team, building on the strong progress to date, and over time helping to unleash and extract the full potential of a standalone GiG platform.”

“We are very pleased and excited to announce that Richard Carter will join GiG as Platform & Sportsbook CEO during Q3, 2023,” said Petter Nylander, GiG’s Chairman of the Board. “The Board believes Richard Carter has the relevant experience, given his success as CEO of SBTech and has shown an impressive and deep understanding of the GiG business, its opportunities and provided thoughtful strategic considerations on how to build on the recent success of the Platform business and drive shareholder value.”