In a strategic move gearing up for the imminent division of the company, iGaming technology company Gaming Innovation Group (GiG) has announced the appointment of Richard Carter as the CEO of its Platform and Sportsbook division. This appointment bolsters the company’s position with a seasoned professional at the helm of this vertical, aligning with its forthcoming split into two separate entities.
In Q1 2023, the board of the company decided to initiate a strategic review to split GiG into two main business segments: Media Services and Platform & Sportsbook. The Media Services segment includes GiG’s lead generation business through online media buys and publishing, while the Platform & Sportsbook segment encompasses iGaming platforms, front-end development, and other managed services.
Carter brings extensive experience from the iGaming industry, having served as CEO of SBTech for nearly five years. During his tenure, he played a pivotal role in orchestrating the merger between SBTech and DraftKings, facilitated through a three-way agreement involving Diamond Eagle Acquisition Corp in April 2020. More recently, Carter served as the CEO of Bragg, an online casino and gaming platform provider listed on Nasdaq and TSX. These leadership roles have equipped him with a profound understanding of GiG’s core markets and the intricacies of the industry, the company said in a statement. Notably, prior to his role at SBTech, he held the position of Director of Research at Deutsche Bank, overseeing the Pan-European Gaming Equity Research franchise.
Scheduled to assume his role on September 18, 2023, Carter will take on the responsibility of strategically positioning GiG’s Platform and Sportsbook division within the global and regulated iGaming landscape, the company said. This mandate involves capitalizing on GiG’s existing status as a provider of proprietary technology through Software-as-a-Service solutions to over 40 clients across more than 35 markets. Additionally, he will spearhead the transformation of this division into an independent publicly listed SaaS entity while harmonizing personnel, technology, product, and process development for innovation and execution across all verticals.
“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,” Carter said.
“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 build on the recent success of the Platform and Sportsbook business and driving shareholder value,” Petter Nylander, GiG’s Chairman of the Board, said.
