In a strategic move preceding the planned division of Gaming Innovation Group (GiG) into two distinct entities, the company has announced the appointment of Richard Carter as the CEO of the Platform & Sportsbook division. Scheduled to assume his role on September 18, Carter’s leadership aims to propel the division into a stand-alone, publicly listed Software as a Service (SaaS) company.
Executive Background and Industry Expertise:
Richard Carter, the incoming CEO, brings a wealth of industry knowledge and a successful track record in operational execution and driving profitable growth in regulated online gaming markets. His nearly five-year tenure as the CEO of SBTech, where he orchestrated a merger with DraftKings, underscores his leadership prowess. Carter’s experience also includes a stint as CEO of Bragg and a director of research at Deutsche Bank.
Strategic Vision and Board Chairman’s Perspective:
Petter Nylander, GiG’s Board Chairman, expressed enthusiasm about Carter’s appointment, highlighting his success at SBTech and deep understanding of GiG’s business. The board believes Carter is well-positioned to lead the Platform & Sportsbook division and transform it into a stand-alone SaaS powerhouse. Nylander emphasized Carter’s strategic considerations to build on the recent success of the Platform business and enhance shareholder value.
Transformation and Stand-Alone SaaS Company:
Carter’s primary responsibility will be to position GiG’s Platform & Sportsbook division for success in the evolving landscape of online gaming. The plan involves transforming the division into a stand-alone SaaS company, set to be publicly listed. This strategic move aligns with GiG’s vision to maximize the potential of its proprietary technology platform, market coverage, and product portfolio.
Company Split and Future Prospects:
The announcement of Carter’s appointment precedes GiG’s planned split into two entities, a development that signifies a focused approach to different aspects of the gaming industry. As the Platform & Sportsbook CEO, Carter is expected to play a pivotal role in navigating the company through this transition and capitalizing on the strengths of the individual entities.
Recent Achievements and Market Expansion:
GiG’s recent successes include securing licenses in the US states of Maryland and Pennsylvania. The company obtained an online sports betting operator license in Maryland and a fully interactive gaming manufacturer license in Pennsylvania, marking significant strides in expanding its regulated market presence in the United States.
Carter’s Vision for GiG’s Future:
Expressing his enthusiasm, Richard Carter shared his excitement about joining GiG during a crucial phase in the company’s development. He highlighted the exceptional potential of GiG’s Platform, with its data-led proprietary technology, market coverage, and diverse product portfolio. Carter expressed his commitment to building on the Platform’s recent growth and unlocking its full potential as a stand-alone entity.
With the appointment of Richard Carter as Platform & Sportsbook CEO, Gaming Innovation Group looks poised to enter a new phase of strategic growth and transformation. The planned split into two companies, coupled with Carter’s leadership, reflects a forward-looking approach to maximize opportunities in the dynamic online gaming industry. As the company sets its sights on becoming a stand-alone SaaS powerhouse, the industry awaits the unfolding of this strategic vision under Carter’s guidance.