New CEO excited to shape the future of Bragg and lead expansion into the burgeoning North American iGaming market
TORONTO--(BUSINESS WIRE)--Global B2B gaming technology provider Bragg Gaming Group (TSX:BRAG, OTC: BRGGF) ("Bragg" or the "Company") is pleased to announce that Bragg Board Member Richard Carter has stepped into the role of CEO of the Company, as of May 1, 2021. Board member Paul Godfrey will assume the role of Chair of the Board of Bragg Gaming, as of May 3, 2021. Board member Lara Falzon will move to the role of Audit Committee Chair as of the same date.
Mr. Carter joins as Group CEO at a key point in the Company’s growth and evolution, with an aggressive global growth strategy underway, including expansion into the burgeoning North American IGaming market and an anticipated launch on the Nasdaq exchange. His significant industry knowledge and extensive global network will be integral to Bragg’s future growth trajectory.
Prior to joining the Bragg Board of Directors in the fall of 2020, Mr. Carter was CEO of sports betting solutions and services provider SBTech for five years, until the company’s merger with digital sports entertainment and gaming company DraftKings, through a three-way deal with Diamond Eagle Acquisition Corp in April 2020.
“I’m excited to be leading Bragg in its next phase of growth and helping to shape the future of the company, as we continue to provide next generation premium content and tools to our B2B partners,” said Mr. Carter. “Bragg has the cutting-edge technology, the data driven insights, the player engagement tools and the premium content that ideally positions the Company to capture an increasing proportion of global iGaming market. I’m eager to leverage these strengths to expand Bragg in both our core European markets and in the rapidly growing North American iGaming market.”
Board member and co-founder of Bragg Adam Arviv has made the decision to step down from the Board. As a strategic investor in the Company, Mr. Arviv will continue on in his capacity as strategic advisor to Bragg.
Board member Jim Ryan made the decision not to stand for re-election to the Board to pursue his own ventures. The Board wishes Mr. Ryan the best of luck and is grateful for all he has done for the Company in this critical stage of growth.
About Bragg Gaming Group
Bragg Gaming Group (TSX:BRAG, OTC: BRGGF) is a global B2B gaming technology platform provider. Since its inception in 2012, Bragg has grown to include operations across Europe and North America and is expanding into an international force within the burgeoning global online gaming market.
Bragg’s main brand is ORYX Gaming, an innovative business-to-business iGaming platform, casino content aggregator, managed sportsbook and managed services provider, offering cutting-edge content from leading studios.
Through ORYX, Bragg is licensed by the Malta Gaming Authority (MGA) and the Romanian National Gambling Office (ONJN) and its content is certified or approved in 18 other major jurisdictions. Underpinning its commitment to information security, Bragg’s ORYX Gaming was recently awarded an ISO/IEC 27001 certificate.
The Company previously announced the implementation of a consolidation (reverse stock split) of its Common Shares on the basis of one post-consolidation common share for every ten pre-consolidation Common Shares. The Common Shares are expected to commence trading on a consolidated basis under trading symbols TSX:BRAG and OTC:BRGGD on May 5, 2021. OTC Markets will change the symbol from BRGGF to BRGGD for the duration of 20 business days from the split.
Cautionary Statement Regarding Forward-Looking Information
This news release may contain forward-looking statements or "forward-looking information" within the meaning of applicable Canadian securities laws ("forward-looking statements"). Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
All forward-looking statements reflect the Company's beliefs and assumptions based on information available at the time the statements were made. Actual results or events may differ from those predicted in these forward-looking statements. All of the Company's forward-looking statements are qualified by the assumptions that are stated or inherent in such forward-looking statements, including the assumptions listed below. Although the Company believes that these assumptions are reasonable, this list is not exhaustive of factors that may affect any of the forward-looking statements. The key assumptions that have been made in connection with the forward-looking statements include the following: the impact of COVID-19 on the business of Bragg; the countercyclical growth of the business of Bragg; the regulatory regime governing the business of Bragg; the operations of the Company; the products and services of the Company; Bragg's customers; acquisition opportunities; the growth of Bragg's business, which may not be achieved or realized within the time frames stated or at all; and the anticipated size and/or revenue associated with the gaming market globally.
Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the following: risks associated with general economic conditions; adverse industry events; future legislative and regulatory developments; the inability to access sufficient capital from internal and external sources; the inability to access sufficient capital on favorable terms; realization of growth estimates, income tax and regulatory matters; the ability of Bragg to implement its business strategies; competition; economic and financial conditions, including volatility in interest and exchange rates, commodity and equity prices; the estimated size of the gaming market globally; changes in customer demand; disruptions to our technology network including computer systems and software; natural events such as severe weather, fires, floods and earthquakes; and risks related to health pandemics and the outbreak of communicable diseases, such as the current outbreak of COVID-19.
Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise, except in accordance with applicable securities laws.
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