Bragg Gaming Group, the Canadian business-to-business iGaming technology and content supplier, has announced that Richard Carter, the group’s Chief Executive Officer, is leaving the business with immediate effect.
The important announcement comes after the Canadian company’s board announced a strategic review of the business. That review which included an immediate restructuring of the chief executive officer role.
Richard Carter took charge of the Chief Executive Officer position in May 2021. Before this, he was the Chief Executive Officer of SBTech, a sports betting solutions and services provider, until that company merged with DraftKings in April 2020.
The board of directors explained the decision by pointing out that although Bragg Gaming Group recorded “exceptional” revenue over the past year and a half, the improvement was not reflected in its public markets performance. Nevertheless, during this period the company finalized the acquisition of Oryx Gaming Group and Spin Games, boosting its presence on the United States market.
Bragg Gaming’s board also pointed out that other companies are trading at “significantly higher” values, and that was the main reason behind their decision to look for a new chief executive officer.