Gaming Innovation Group (GiG)

Richard Carter takes on leadership role for GiG divestment plans

Gaming Innovation Group (GiG) has named Richard Carter as the CEO of its Platform and Sportsbook division ahead of a major restructuring of the business later this year.

Carter’s background has extensive experience of international betting and igaming markets, which GIG believes has bestowed him with strong knowledge of its business operations and needs.

The new hire was CEO of sports betting solutions developer SBTech between 2016-2020, as well as CEO of Bragg Gaming from May-December 2021, acquiring knowledge of both multinational betting and online casino sectors from these roles.

During his tenure at SBTech, Carter notably oversaw the firm’s merger with DraftKings via a partnership with Diamond Eagle Acquisition Corp in April 2020. This experience may prove valuable to GiG as the firm looks to split its company into two separate businesses.

Carter remarked: “I am delighted to become the Platform and Sportsbook CEO of GiG at such an exciting time in the Group’s development. 

“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 and 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.”

Set to join GiG senior management on 18 September 2023, Carter’s immediate responsibilities will be to position the London-based Platform and Sportsbook division in the global, regulated igaming market and build on GiG’s existing standpoint.

The company is currently active in more than 35 markets with a client base of over 40 firms, whilst reporting revenue growth of 49% year-on-year in Q1 2023 to €28.4m (€19m).

Carter will assume his position at GiG seven months after the firm began reviewing options for a strategic split, planning to divide its business into two standalone publicly traded entities, one of which will be the Carter’s Platform and Sportsbook division.

Petter Nylander, GiG’s Chairman of the Board, said: “We are very pleased and excited to announce that Richard Carter will join GiG as Platform and Sportsbook CEO during Q3, 2023. 

“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 and Sportsbook business and driving shareholder value.”

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