GiG CEO set to leave role at end of 2023
Richard Brown has announced he will leave the Malta-headquartered firm, with the search for his replacement already underway
Malta-headquartered Gaming Innovation Group (GiG) has announced that CEO Richard Brown will depart the group on 31 December 2023, and the search for his replacement has already begun.
Brown joined GIG as managing partner of GIG Media, formerly Innovation Labs, in February 2016, before moving into the role of chief digital officer in 2017 and then chief operating officer the following year.
He was made CEO in November 2019, when his main duty was to lead GiG’s reorganisation, which involved the company divesting its B2C igaming portfolio to Betsson as it refocused on developing its B2B tech solution.
Brown was at the helm when GiG acquired the sportsbook platform provider Sportnco in April 2022 for €51.37m. He also oversaw the deal to buy the AskGamblers brand from Catena Media in December 2022.
Speaking on his departure, Brown commented: “It has been a true honour and privilege to be part of Gaming Innovation Group’s development over the past eight years and the last four years as CEO, leading an incredible group of people towards, as I see it, the unparalleled strategic position across the B2B value chain that the group has created.
“I have no doubt that the teams throughout the organisation and the management groups of the respective business units have the skills and passion to continue the growth of the business towards its financial and operational targets.”
Brown’s departure forms part of GiG’s ongoing strategic review, which began in February, and will see the firm split into two groups: GiG Media and Platform and Sportsbook.
Alongside the announcement of Brown’s departure, the board confirmed the search for his replacement is already underway.
Petter Nylander, chair of the board of directors, said: “Richard has done a tremendous job with GiG over the years and the company is in a very good position driving shareholder value going forward.
“We are pleased that Richard has agreed to stay until the end of the year to secure a smooth transition.”
Last week, GiG also announced the appointment of two new board members at its annual general meeting: Betplay Capital chief Tomasz Juroszek and BeyondPlay founder and CEO Karolina Pelc.