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Gaming Innovation Group (GiG) has appointed Phil Richards as chief financial officer (CFO) for its Platform & Sportsbook division.

Richards previously held positions in finance across the iGaming, cybersecurity, and accounting sectors, including at Kambi and blue-chip firms such as Shell and KPMG.

His most recent role was CFO of AIM-listed cybersecurity company Corero Network Security.

Richards expects GiG to rapidly expand and gain market share as a result of the company’s product and market reach.

“I am delighted to be joining GiG at such a pivotal moment in the company’s growth story.

“Working alongside such an experienced executive team will allow me to further support the continued evolution of GiG’s platform, cementing its position as the market leader for operators globally,” said Richards.

Richards will be responsible for developing the finance department and supporting the broader strategic development of the Platform & Sportsbook business as it prepares to list on the Nasdaq Stockholm in connection with the GiG spin-off.

“Phil’s appointment is another significant step towards helping us reach the high bar we have set for the business,” said GiG Platform & Sportsbook CEO Richard Carter.

“We are completing a process of bringing together the strongest leadership in sports betting and iGaming.

“I am confident that his arrival will help further fuel our strategic plans, establishing us as a leader across the iGaming industry,” Carter added.

Leading new divisions

The expansion of GiG’s executive team is part of a broader strategy to accelerate growth and enhance the company’s product and technological capabilities.

GiG Platform & Sportsbook is looking to leverage cutting-edge AI and data solutions to improve operator growth and user experience.

This includes the introduction of products like SweepX, a new social sweepstake casino solution, along with the launch of its X-Suite platform, which features CoreX, SportX, DataX, and LogicX.

GiG reported all-time high revenue of €36.2m in Q1 2024, representing a 28% year-on-year increase.

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