Bragg Gaming Group on Wednesday said it has tapped gaming industry executive Richard Carter to be its new CEO, effective 1 May.
Bragg is a global B2B gaming technology platform provider with operations across Europe and North America. The company’s main brand is ORYX Gaming, a business-to-business online gaming platform, casino content aggregator, managed sportsbook and managed services provider.
Company founder Adam Arviv has served as interim CEO of Bragg Gaming since September 2020. Arviv said he elected to take on an activist role after being disappointed with what he felt was “continued underperformance” in its share price.
One of the first moves Arviv made was to recruit Carter to serve as board chair.
According to Arviv, Carter’s leadership has helped the company strengthen its balance sheet, create recurring positive cash flow and eliminate its debt.
Bragg recently graduated from the TSX Venture Exchange to the Toronto Stock Exchange, Arviv noted.
“We have made significant progress in our strategic goals over the past months, and Richard is the ideal person to advance our plans – expanding our current market overseas and aggressively moving into the US market,” Arviv said in a statement. “Richard is a recognized authority in the online sports and casino betting industry, with a proven record helping launch SBTech in the US market before the successful sale of the company to DraftKings. We are working together to make the necessary adjustments as we transform Bragg into a major player.”
Carter added: “I am excited to lead Bragg on our mission to become a significant force in the B2B gaming space. 2020 has been a very successful year for the company and we are well positioned to maintain this momentum into 2021 and beyond.”
Carter said Bragg intends to grow and broaden its business in its core European markets, while accelerating its investment and focus on the fast-growing North American online gaming space.
“Now is the right time to break into this market, and we look forward to building our cutting-edge technology, data insights and exclusive casino gaming content,” Carter added.
