Phil Richards, the chief financial officer of Gaming Innovation Group (GiG), has departed from the company after two and a half years of service. His final month at GiG was October, as he stated in a LinkedIn post on Monday. Richards is set to assume the CFO position at the design and visualization software firm Chaos in December.
GiG confirmed that Richards’ departure took effect on November 2. In light of this transition, the company has organized arrangements to ensure continuity in finance, reporting, and regulatory oversight while actively searching for a new CFO. Richards will remain involved during this handover period, and the company’s board has initiated the process of appointing his successor.
Richards began his role as CFO at GiG in July 2024, prior to which he held senior finance positions at Kambi, a gambling technology supplier, for nearly six years. His previous experience also includes being CFO at Corero Network Security, along with senior roles at Shell and KPMG.
Richard Carter, CEO of GiG, recognized Richards' significant contributions during his tenure. "On behalf of management and the board, I would like to thank Phil for his contribution to GiG," Carter remarked. "He has played an important role in the company’s financial reporting, investor relations, and corporate development activity, and we wish him well for the future."
Reflecting on his time at GiG, Richards expressed pride in the company’s achievements, including its IPO and a sharper focus on its platform business. He noted the successful acquisition of a majority stake in 888Africa as a significant milestone. This acquisition, announced in August, marked GiG’s return to consumer gaming following a hiatus, involving plans for an 80% stake in Evoke’s 888Africa at a value of up to €16.4 million.
In a September discussion with iGB, Richards highlighted the strategic importance of the 888Africa acquisition for GiG's B2B operations. "That dual value is really the point of the deal," he stated. "Owning a leading local operator gives us direct, ground-level insight into regulatory developments, player behaviour, and payment infrastructure across several African markets; insight that is very difficult to build from the outside."
As of now, GiG has not announced Richards' successor.
