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Richard Brown has officially stepped down as CEO of Gaming Innovation Group (GiG) but will continue to serve the company in a board advisory position until 31 December.

Resignation background

Brown’s departure was first announced in May this year, following a strategic review to divide the business into two separate companies.

The change, GiG said, was intended to fully optimise each business unit’s growth opportunities and ensure both could benefit from the strategic and financial flexibility of their distinct business models.

Former SBTech boss Richard Carter was subsequently announced as the CEO of GiG’s Platform and Sportsbook business, while Jonas Warrer will continue to lead GiG Media as CEO of the business unit.

Board chairman Petter Nylander, meanwhile, will take on the role of executive chairman while the strategic review is underway.

Following his resignation, Brown will help support the handover of the GiG Platform and Sportsbook business to incoming CEO Carter, while providing ongoing support to the board of directors until the end of 2023.

Management commentary

GiG said the move would enable both new CEOs to take their respective business units forward while receiving adequate background support from Brown.

“GiG is in a tremendous position strategically and operationally, and with Jonas and Richard now in place to drive the business units towards further success, it is a good time for me to move to a supportive but non-operational role until the end of the year,” Brown said.

GiG chairman Nylander added: “We are very pleased with the progression of splitting GiG into two distinct entities to enhance future expansion and drive shareholder value. 

“We now have two strong CEOs in Jonas Warrer for Media and Richard Carter for Platform & Sportsbook with full operational responsibility for each business unit. 

“Richard Brown has been instrumental in making this possible and the board wants to thank Richard for his valuable contribution to GiG over the years. We are pleased that Richard will be available until year end to secure the succession.”

Future plans

Following the end of 2023, Brown is expected to take charge of B2B and B2C online gambling firm Glitnor Group as CEO.

Glitnor operates B2C brands including LuckyCasino and HappyCasino, as well as owning B2B content house Swintt.

The company was formerly led by CEO David Flynn, who stood down from the role earlier this year to take up a non-executive director role on Glitnor’s board.