A leading iGaming technology company, Gaming Innovation Group Inc., continues splitting operations into its Media and Platform businesses by distributing the corporate GiG Platform to the newly-formed verticals. The process involving two separate board compositions is reviewed and evaluated by the Group’s nomination committee to ensure the optimization of the two subsidiaries.
Different Models for Two GiG Ventures:
According to the press release, the new companies will have a different status within the GiG Group: GiG Media will be included in GiG’s corporate structure as a part of the holding company. On the other hand, GiG Platform, currently a subsidiary, will be offered to GiG’s shareholders later this year under the spin-off model. Likewise, the GiG Platform board will not be elected at the Group’s annual meetings but as scheduled by the shareholders. In fact, the GiG Platform board will include most of GiG’s current board members. Therefore, the board of directors for GiG Platform will reportedly include chairman Petter Nylander and board members Nicolas Adlercreutz, Mikael Riese Harstad, Hesam Yazdi, Tomasz Juroszek, and Steve Salmon.
GiG’s Proposed Board of Directors:
The press release indicates that GiG’s Nomination Committee has come up with a proposal for GiG’s Annual General Meeting 2024 regarding the board structure, election process, and continued operation of GiG Media. The Nomination Committee reportedly proposes that the Board of Directors of GiG consists of five members, with the mandate until the next Annual Meeting of Shareholders. The body proposes board members as follows: Mikael Riese Harstad,Hesam Yazdi, Cristina Romero de Alba, Mateusz Juroszekand Nicholas Batram. The GiG’s committee also proposes that Mikael Riese Harstad be elected as the Chairman of the Board of Directors.
Committee Proposing Three New Board Members:
As reported, Cristina Romero de Alba, a Spanish citizen born in 1981, will join the Board as an expert in finance and law leading prominent M&A operations focused on the American gambling and betting industry. With more than 12 years of industry experience, she has counseled industry stakeholders and investors in more than 30 countries. Also, Alba reportedly holds a board member position at the ICRG (International Center for Responsible Gaming) in the US and supports financial service operators in asset management strategies in their Latin American operations. Alba reportedly has no shares in GiG.
Mateusz Juroszek, a Polish citizen born in 1987, has reportedly been involved in the gambling sector for almost 20 years. He has been CEO of Poland’s largest bookmaker, STS, for 12 years. From 2011 to 2023, the Polish company has grown into the local market leader implementing innovative sports betting and technological solutions under Juroszek’s leadership. It was his decision to transform the retail gambling model to an online casino platform featuring various mobile integrations along the way to bring STS to the Warsaw Stock Exchange listings with capitalization increasing from €850 million to €880 million after integration with Entain. Juroszek has also been involved in other successful ventures, such as EUR 650m Betplay Capital investment fund to currently join the GiG board indirectly holding 19,424,518 shares in the Group.
Nicholas (Nick) Batram, a British citizen born in 1968, is the third new member of the GiG Boar of Directors. Having been Group Director of M&A and Corporate Development at a leading gambling company Entain, Batram uses his knowledge and experience to run his own consulting business now. He spent eight years in Entain to facilitate the company’s expansion across various regions, monitoring the associated transactions worth a total of $10 billion. Batram has also got a 30-year experience in the finance industry and was voted the No.1 Leisure & Gaming analyst in the corporate survey. He reportedly has no shares in GiG.
GiG Annual General Meeting 2024:
The GiG’s Nomination Committee’s proposal for the chairman and the members of the GiG Board of Directors will be considered at the Group’s Annual General Meeting 2024, to be held in Stockholm, Sweden, on 22 May 2024, according to the press release, as the separation of GiG Media and GiG Platform continues.