Phil Richards has stepped down from his role as chief financial officer at Gaming Innovation Group (GiG) after serving the company for two and a half years. In a LinkedIn update shared on Monday, Richards announced that October was his final month with GiG, and he is set to join design and visualization software firm Chaos as its CFO in December.
His departure became official on November 2, as confirmed by the company. GiG has put transition plans in place to ensure continuity in finance, reporting, and regulatory matters while they search for a successor. During this period, Richards will assist with the transition, while the board begins the appointment process.
Richards took on the CFO position in July 2021, bringing with him nearly six years of experience at gambling technology provider Kambi in senior finance roles. His background includes a tenure as CFO at Corero Network Security and senior positions at Shell and KPMG.
As Richards prepares to leave for his new role at Chaos, Richard Carter, GiG’s CEO, acknowledged the significant contributions Richards made during his time with the company. "On behalf of management and the board, I would like to thank Phil for his contribution to GiG," Carter stated. He praised Richards for his key role in financial reporting, investor relations, and corporate development activities, wishing him success in his future endeavors.
Reflecting on his time, Richards expressed pride in the advancements made at GiG, particularly the transition characterized by their initial public offering and the increased focus on their platform business. Notably, GiG also completed the acquisition of a majority stake in 888Africa during his tenure, marking the company’s return to direct consumer gaming after several years.
Richards noted that the acquisition reflects GiG's strategy, stating, "That dual value is really the point of the deal. Owning a leading local operator gives us direct, ground-level insight into regulatory developments, player behavior, and payment infrastructure across several African markets; insight that is very difficult to build from the outside."
As it stands, GiG has not yet announced Richards' successor.
