GiG Finance Director Phil Richards Steps Down

Gaming Innovation Group (GiG) finance director Phil Richards has left the company after two and a half years in the role. Richards said in a LinkedIn post on Monday that October would be his last month at GiG. His departure took effect on 2 November, and the company confirmed this.

While it searches for a new finance director, GiG said transition arrangements have been put in place to maintain continuity in finance, reporting and regulatory compliance. Richards will remain in post during the handover. The board has also started the process of appointing a successor.

Richards joined GiG as finance director in July 2024. Before that, he spent about six years in senior finance roles at betting technology supplier Kambi. His career also includes a finance director position at Corero Network Security and senior roles at Shell and KPMG. Richards will start as finance director at Chaos from early December.

GiG CEO Richard Carter highlighted Richards' contribution during his tenure. Carter said Richards played an important role in the company's financial reporting, investor relations and corporate development activities. During Richards' time, GiG completed its IPO, sharpened its focus on the platform business model and acquired a majority stake in 888Africa. Richards described the period as "a real period of change for GiG".

The 888Africa deal was announced in August and marked GiG's return to the B2C gaming sector after several years. Under the agreement, Evoke was to acquire an 80 percent stake in 888Africa. The deal was worth up to 16.4 million euros. In a statement to iGB in September, Richards said the deal provided a "strategic bridgehead" for the company's core B2B business.