Bragg Gaming has appointed Paul Godfrey as interim Chief Executive. Mr. Godfrey currently serves as Chairman of the gaming supplier. He replaces Richard Carter and is also a former Chairman of the Ontario Lottery and Gaming Corporation and former President & CEO of the Toronto Blue Jays baseball club. He also currently serves as Executive Chairman of Postmedia. He will be assisted by Bragg founder Adam Arviv, who will take on the role of Special Advisor, with Oryx founder and Bragg Vice Chairman Matev Mazij also playing an integral role within the organisation. The company has enjoyed six consecutive quarters of strong sales and growth, but its share price remains weak, and a statement from the Board said: “While peers trade and transact at significantly higher multiples, Bragg’s continued strong growth has yet to be reflected in the Company’s public market performance, and the Board has determined that a search for a new CEO is required.”
Paul Godfrey added: “While the global online gaming industry continues to grow exponentially, the North American opportunity is a game changer. Bragg’s technology and content is well-positioned to take advantage of this new market’s potential and although operations have continued to outperform over recent quarters, the capital markets strategy has not translated into shareholder value. Developing this alignment will be our top priority and absolutely requires a strategic review.”
