Bragg Gaming Group (TSX:BRAG, NASDAQ:BRAG) Inc has announced that its chairman, Paul Godfrey, has been appointed as the company's interim CEO, effective today.
Bragg said it will conduct a strategic review of the overall company, which will include a search for a new CEO, as its track record of exceeding revenue and growth targets over the past six quarters has yet to be reflected in the company's public market performance.
“While the global online gaming industry continues to grow exponentially, the North American opportunity is a game changer,” Bragg Gaming Group (TSX:BRAG, NASDAQ:BRAG) interim CEO Paul Godfrey said in a statement.
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“Bragg's technology and content is well-positioned to take advantage of this new market's potential and although Bragg's operations have continued to outperform over recent quarters, the capital markets strategy has not translated into shareholder value,” Godfrey added.
Godfrey, former chair of the Ontario Lottery and Gaming Corp, held previously roles that included publisher and CEO of Sun Media and president and CEO of the Toronto Blue Jays.
The company noted that Bragg founder and former interim CEO Adam Arviv will take on the role of special advisor to the chair and CEO.
Richard Carter, meanwhile, will step down from the CEO role at Bragg Gaming, effective immediately.
Bragg Gaming is a growing global gaming technology and content group and owner of leading B2B companies in the iGaming industry. Since its inception in 2018, Bragg has grown to include operations across Europe, North America and Latin America and is expanding into an international force within the global online gaming market.
Through its wholly-owned subsidiary ORYX Gaming, Bragg delivers proprietary, exclusive and aggregated casino content via its in-house remote games server (RGS) and ORYX Hub distribution platform. ORYX offers a full turnkey iGaming solution, including its Player Account Management (PAM) platform, as well as managed operational and marketing services.
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