Yo fam! 🤙 Richard Brown is peacing out from his bigwig role as chief exec at Gaming Innovation Group (GiG) way ahead of schedule, making room for the new chief, Richard Carter, who’s ready to rock it! 🤘 Brown’s taking a chill board advisory role at GiG till December 31.
👋 Later, Brown! 🏃♂️ GiG dropped the bomb about this exit back in May, spilling the tea that Brown was gonna bounce from the CEO gig by the end of 2023. He’s headed to Glitnor Group as the big boss in January 2024. 😎
This dude took the CEO throne in November 2019, after doing time as the chief operating officer and chief digital officer. He even did a stint as the head honcho at GiG Media. 🎮
Before he hopped on the GiG train in February 2016, he was kickin’ it at Highlight Media Group, Web Guide Partner, and THG Sports. 🌟
Brown’s exit vibes came after GiG threw it back and announced they’re planning a breakup, like celebs trying to avoid drama. 💔 They wanna split their biz into two: GiG Media and Platform/Sportsbook doing their own thing. 🏀📚
Former SBTech CEO Richard Carter is swooping in to run the Platform and Sportsbook division. 🏎️ Jonas Warrer, the CMO, is holding it down for GiG Media. Chairman Petter Nylander’s taking the executive chair throne till the split’s official. 🛋️
Brown’s gonna play wingman for Carter and help GiG’s board till the end of the year. This lets both new CEOs flex their muscles and take their business squads to new heights. 🚀
GiG’s hoping to wrap up this split saga by the first half of 2024. 💪
Brown’s saying it’s the perfect time to drop the CEO mic, like a boss! 🎤 “GiG’s on a mad winning streak,” Brown said. “With Jonas and Richard now steering the ship, it’s my cue to take a backseat and vibe in a supportive role till the year’s end.” 🎶
Nylander chimed in, “We’re hyped about this split plan, making GiG even more fly and valuable. Big shoutout to Richard for the grind. He’ll be holding us down till the end of the year for a smooth transition.” 💯
GiG had a lit Q2, raking in a record €34.9m (£30.0m/$37.2m) in revenue. 💸 Both GiG Media and Platform/Sportsbook segments were slayin’, especially GiG Media with that all-time high in publishing cash flow. 💰
GiG Media pocketed €21.7m, a 46.6% jump, breaking their own record. And Platform/Sportsbook made 27.4% more in Q2, totaling €9.3m. 💥
Their bottom line net profit went sky-high, reaching €7.1m, a wild 317.7% jump from last year. Adjusted EBITDA spiked 68.7% to €14.0m. 🚀
In H1 2023, they scored big, with revenue up 36.7% to €64.8m. Net profit was €11.5m, a 283.3% flex from H1 2023, and adjusted EBITDA shot up 71.3% to €25.7m. 💪
