leadf
logo-loader
viewBragg Gaming Group

Bragg Gaming Group brings on former SB Tech CEO Richard Carter to its board of directors

As CEO of SB Tech, Carter helped to spearhead the US$3.3 billion merger of the interactive sports betting company with DraftKings

Bragg Gaming Group -
Bragg said it struck an agreement with KAVO Holdings Limited that will see Matevž Mazij will remain a managing director of Oryx Gaming International

Bragg Gaming Group Inc (CVE:BRAG) (OTCMKTS:BRGGF) announced Wednesday it is adding former SB Tech CEO Richard Carter to its board of directors.

As CEO of SB Tech, Carter helped to spearhead the US$3.3 billion merger of the interactive sports betting company with DraftKings, a leading digital sports and entertainment company.

Carter, who will act as Bragg’s non-executive chair, will support Bragg’s interim CEO Adam Arviv on building the company’s global strategy, according to a statement.

READ: Bragg Gaming subsidiary ORYX Gaming debuts in Denmark with its portfolio of casino content powered by SkillOnNet

“Richard is a recognized authority in the online sport betting industry who was heavily involved in the merger between DraftKings and SB Tech,” Arviv told shareholders in a statement.

“This appointment fits my mission as interim CEO - to build a championship team that will execute on our plans to expand our current market overseas and to aggressively move into the US market. We continue to be focused on recruiting additional top talent.”

Carter told investors he was excited to join Bragg and help make the Toronto-based company a major player in the gaming space.

“2020 has been an unbelievably successful year and we are eager to grow the business in the world’s largest gaming market, the US,” Carter said. “Now is the right time to break into this market, and my priority is to make those connections that will lead to success.”

Oryx commits to managing director

Also in Wednesday’s statement, Bragg said it struck an agreement with KAVO Holdings Limited that will see Matevž Mazij will remain a managing director of Oryx Gaming International and its subsidiaries.

“I am thrilled to remain committed to the company’s people and operations,” said Mazij. “With Adam’s leadership and Richard’s expertise and vitality, I’m enthusiastic about the company’s long-term growth and the continued creation of shareholder value.”

As part of the agreement, the first earn-out payment of €10.55 million in cash, which was otherwise due to KAVO on September 30, 2020 has been extended to January 31, 2021. The second and final earn-out payment owing to KAVO with today’s fair market value of €22M will be converted into common shares of Bragg by January 31, 2021, with the price of conversion being set in the range of $0.68 to $0.71, for between 45.5 million and 47 million shares, subject to certain conditions including the approval of the TSX Venture Exchange.

KAVO will also receive nomination rights to appoint up to two additional nominees to the board. In addition, effective immediately, Matevž Mazij will become an observer to the board.

Contact Angela at angela@proactiveinvestors.com

Follow her on Twitter @AHarmantas

Quick facts: Bragg Gaming Group

Price: - -

TSX-V:BRAG
Market: TSX-V
Market Cap: -
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Bragg Gaming Group named herein, including the promotion by the Company of Bragg Gaming Group in any Content on the Site, the Company receives...

FOR OUR FULL DISCLAIMER CLICK HERE

Bragg Gaming gains foothold in the Netherlands through deal with JVH Gaming...

Bragg Gaming Group Inc (CVE:BRAG) (OTCMKTS:BRGGF) Chief Strategy Officer Yaniv Spielberg tells Proactive its subsidiary ORYX Gaming has extended its reach into the Netherlands on the back of a major deal with leading Dutch land-based operator, JVH Gaming & Entertainment Group along with...

on 5/1/21

3 min read