GiG brings in Richard Carter to lead platform and sports arm

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Gaming Innovation Group (GiG) has appointed Richard Carter, formerly chief executive of SBTech, as CEO of its recently established Platform and Sportsbook division, ahead of it being spun out as a standalone business.
Richard Carter GiG

Carter is a highly experienced executive having led SBTech for over four years, overseeing its acquisition by DraftKings.

He also spent time as CEO of Bragg Gaming Group after leaving SBTech in the wake of the DraftKings deal.

More recently, he has headed up Acquire VC Investments and also invested in slot games developer StakeLogic.

Carter will officially join GiG on 18 September. He will seek to transform the Platform and Sportsbook division into a stand-alone business. This includes aligning people, technology, product and process development with the group’s new approach.

“I am delighted to become the Platform and Sportsbook CEO of GiG at such an exciting time,” Carter said. “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’m 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.”

GiG chairman Petter Nylander added: “The board believes Richard has the relevant experience, given his success as CEO of SBTech. He 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.”

Business splits after strategic review

GiG revealed plans to split is business into two separate entities in February after launching a strategic review. 

The initiative will see Platform and Sportsbook split from the Media division. Each will run independently as publicly listed companies.

At the time, GiG said this would “sharpen the focus” of each segment. This in turn optimises growth opportunities and ensuring each business benefits from strategic and financial flexibility.

The GiG Media affiliate arm will continue to be led by CMO Jonas Warrer. However, when Richard Brown stepped down as group CEO, this kicked off the search for someone to lead Platform and Sportsbook.

During Brown’s tenure as CEO, the group has continued to expand into new markets. This included completing major acquisitions, selling off its B2C assets to Betsson and delivering record revenues in Q1 2023.

Juroszek becomes largest GiG shareholder

In a further development, the Juroszek family last month became the largest shareholder in GiG. The family, former owner of Polish betting operator STS Holdings, now has an 11.08% stake in the supplier.

The Juroszek family purchased the shares in what is described as an “undervalued” GiG after July’s announcement it would be selling a 70% stake in STS to the Entain CEE joint venture.

Mateusz Juroszek, who remains in place as STS CEO following the June acquisition, named the provider as one of the most attractive igaming businesses on the public market.

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