Canada
Richard Carter to ascend to the role of CEO of Bragg Gaming – ORYX Gaming’s parent company
Founder Adam Arviv hands operations of the online gaming technology provider to one of the online gaming world’s most recognised CEOs
ORYX Gaming’s parent company Bragg Gaming Group announced today that Founder and interim CEO Adam Arviv has appointed Richard Carter to the role of CEO of Bragg Gaming, effective May 1, 2021.
Mr. Arviv is a Founder of Bragg and remains among the largest shareholders in the Company. In early 2020, disappointed with the negative effects of continued underperformance and missteps on the share price of the Company, Mr. Arviv elected to take on an activist role in the Company and petitioned the Board to place him in the role of CEO in September 2020. At this time, the company was trading at approximately C$.30, with a market cap of C$19.5M and carrying $50M of debt.
Mr. Arviv strategically recruited prominent gaming industry executive Richard Carter as Board Chair. Mr. Arviv led the negotiations and settlement of the ORYX earn-out and guided the team in the raise of C$58M, including forcing the conversion of all warrants. Now boasting a strong balance sheet with recurring positive cash flow and no debt, Bragg graduated recently from the TSX Venture Exchange to the Toronto Stock Exchange.
“We’ve made significant progress in our strategic goals over the past months, and Richard is the ideal person to advance our plans – expanding our current market overseas and aggressively moving into the U.S. market,” said Mr. Arviv. “Richard is a recognised authority in the online sports and casino betting industry, with a proven record helping launch SBTech in the U.S. market, before the successful sale of the company to DraftKings. We’re working together to make the necessary adjustments as we transform Bragg into a major player.”
“I’m excited to lead Bragg on our mission to become a significant force in the B2B gaming space,” Mr. Carter responded. “2020 has been a very successful year for the Company and we are well positioned to maintain this momentum into 2021 and beyond. We will continue to grow and broaden the business in our core European markets, while at the same time starting to accelerate our investment and focus on the fast-growing North American iGaming market. Now is the right time to break into this market, and we look forward to building our cutting-edge technology, data insights and exclusive casino gaming content to the market.”
Previous to joining the Board of Bragg, Richard Carter held the role of CEO of interactive sports betting solutions and services provider SBTech for the past 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. The transaction was valued at US $3.3 billion, and the combined entity has a current market cap of US $27.5 billion.
“On behalf of Richard and the other members of the Board of Directors, I would like to thank Adam for his continued commitment to Bragg,” said Bragg Board Member Paul Godfrey. “As the founder and largest strategic investor in the Company, Adam stepped into the CEO role and led the transformation of Bragg to date. He’s now handing over a company perfectly positioned to win under Richard Carter’s leadership. Adam will continue on in his capacity as chief advisor to the board and CEO.”
Canada
ComeOn Group adds sportsbook to its offering in Ontario
ComeOn Group announced a significant milestone in its sportsbook expansion journey with the addition of sportsbook to their offering in Ontario following the successful acquisition of the required permits. This addition represents a strategic advancement in the Groups sportsbook growth trajectory where they are set to double its sportsbook business in the coming years.
ComeOn Group is one of 51 active operators in Ontario. The Ontario market has experienced robust growth since its launch, reaching C$6.7 billion in revenue in 2023.* By 2029, the market is forecasted to grow by a total of 29%, with 2024 expected to close with a 20% increase.
ComeOn keeps investing in its sportsbook business acceleration that is powered by its proprietary sportsbook platform and in-house risk management and trading team. As a multi product vertical operator, ComeOn is striving to give its customer base a safe and exciting entertainment destination and this approach is now expanded to their Ontario audience.
Juergen Reutter, Chief Executive Officer at ComeOn Group, said: “We are very excited about the opportunities this new milestone opens up for us. As a casino-led operator it represents a key part of our sportsbook strategy to double our business in the coming years. Like in any of our other markets, we are striving for a differentiated sportsbook entertainment experience that is powered by our in-house technology. Our goal is to deliver top-tier entertainment to our players while fostering safe and innovative gaming experiences.”
*Source – H2GC H2 Ontario Data 25.10.2024 (excl. Lottery)
Canada
INTRALOT Announces New Project with the British Columbia Lottery Corporation for Online Lottery Platform
INTRALOT S.A. has announced the undertaking of a new project between the British Columbia Lottery Corporation (BCLC), the sole lottery operator for the Government of British Columbia in Canada, and INTRALOT Inc., its US subsidiary, for the provision of an online lottery platform. The project also includes the digitalization of the existing land-based network.
The solution will be based on the Player X platform, part of the Lotos X ecosystem, and adds to the company’s overall partnership with BCLC, which has been extended until 2028.
INTRALOT is a leading player in a changing world of gaming. With significant experience in looking forward and anticipating emerging trends, the company provides future-proof solutions to regulated lottery and gaming operators around the world.
Canada
IAGR announces Toronto as host city for 2025 conference
Hot on the heels of its most attended conference in history, the International Association of Gaming Regulators (IAGR) is excited to announce that its 2025 conference will take place in Toronto, Canada, from October 20 to 23, 2025.
The event will be held in partnership with the Alcohol and Gaming Commission of Ontario (AGCO) at the Westin Harbour Castle, offering stunning waterfront views and a premier, downtown Toronto location.
‘Fresh off the success of our Rome conference, we’re thrilled to continue the momentum with next year’s event in Toronto,’ said Ben Haden, IAGR President.
‘The IAGR 2025 conference promises to be another unparalleled opportunity for our global community to come together, collaborate and shape the future of gaming regulation. We’re looking forward to working with AGCO to bring it all together.’
AGCO CEO and Registrar Dr. Karin Schnarr, added, ‘We’re excited to welcome IAGR and its members to Toronto. This partnership provides a great opportunity to share Ontario’s innovative regulatory practices and foster meaningful discussions that drive positive change in the industry.’
Stay tuned for registration details early next year.
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