Bragg Gaming Group has most currently informed that former Chair of the Ontario Lottery and Gaming Corporation – Paul Godfrey will be taking over the role of Interim CEO. Mr. Godfrey who serves as, Chair of the Board of Directors of the global gaming content and technology provider will assume the position effective immediately.
The gaming leader is a growing global technology and content group and owner of leading B2B companies in the iGaming sector. The company is also the parent firm of ORYX Gaming, however, lately, the corporation has been satisfied with its latest performance indicators over the last couple of quarters. And now, the company will search for a new CEO.
Interim CEO Appointed
Richard Carter will now step down from the position of CEO. As of November 15, 2021. Mr. Godfrey, who is the Chair of the Board of Directors for the company, will immediately assume the position of Interim CEO. The company’s founder and ex Interim CEO Adam Arviv will now assume the position of Special Advisor to the Chair and CE of the company.
The board of the B2B gaming leader has conducted a strategic review of the overall performance of the company, as well as an assessment of the current CEO position. While its fellow gaming peers continue to trade and perform at a higher level and multiples, Bragg Gaming Group’s continued growth is yet to be projected on its public market performance, which is a concern for the Board.
Mr. Godfrey has accepted the offer to take over the position of Interim CEO until a suitable replacement is found by the Board. He is an experienced businessman and Canadian politician, who recently took over the position of President and CEO of Postmedia Network. Mr. Godfrey has also served as Publisher and CEO of Sun Media and President and CEO of the Toronto Blue Jays.
Commenting on his appointment, Mr. Godfrey said that the North American gaming market is one of vital importance to the growling online gaming industry. According to him, the company’s technology and products are more than capable of taking advantage of the new market’s opportunities. He also said that despite the company outperforming over the recent quarters, the capital markets strategy has not been transformed into shareholder value.
Q3 Report
Additionally, not long-ago Bragg Gaming Group published its fiscal stats and highlights for its third quarter that started on July 1, 2021, and concluded on September 30, 2021. One significant milestone during the quarter was the company’s listing on the Nasdaq Global Select Market. Also, the company launched operations in several new gaming markets including Spain Denmark, and Greece.
Another great set of recent news saw the B2B gaming provider and content distributor ink a partnership with the Czech Republic-based casino operator MERKUR. Now, the gaming leader will be able to integrate its ORYX Gaming platform and its content into the brand’s range of casino titles. The company will also implement its Play Account Management, which will certainly come in handy for the operator.
Source: “Bragg Gaming Appoints Former Chair of Ontario Lottery and Gaming Corp. Paul Godfrey as Interim CEO”, Yahoo Finance, November 15, 2021
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Author: Yolina
Yolina has followed closely the latest development on the Canadian gaming scene over the past years, monitoring the land-based, lottery, and online offerings up for grabs. The dynamic nature of the local lottery and casino fields, as well as the opportunities lying ahead of Canada fire her enthusiasm for what is to come. A sports betting enthusiast, in her spare time Yolina could be found in her natural habitat – turning the pages of biographies and catching up on the latest stand-up comedy podcasts.