GiG CFO Phil Richards steps down after two and a half years

Gaming Innovation Group chief financial officer Phil Richards has left the company after two and a half years. Richards said in a LinkedIn post published on Monday that October had been his final month at GiG. His departure took effect on 2 November, the company confirmed. He is due to join design and visualisation software company Chaos as its chief financial officer in December. Richards will take up the CFO role at Chaos from the start of December.

Handover

GiG says transition arrangements are in place to maintain continuity across finance, reporting and regulatory oversight while it searches for a successor. Richards will remain available during the handover and the board has begun the appointment process.

Background

Richards took up the CFO role in July 2024. Before joining GiG, he spent nearly six years at gambling technology supplier Kambi in senior finance roles. His earlier career included a spell as CFO at Corero Network Security, as well as senior positions at Shell and KPMG.

Richard Carter, CEO of GiG, said: “On behalf of management and the board, I would like to thank Phil for his contribution to GiG.” Carter added that Richards had played an important role in the company’s financial reporting, investor relations and corporate development activity, and wished him well for the future.

During Richards’ tenure, GiG completed its initial public offering and pursued a sharper focus on its platform business. The company also acquired a majority stake in 888Africa. The 888Africa acquisition, announced in August, was GiG’s first return to B2C gaming in a few years. It planned to acquire an 80% stake in Evoke’s 888Africa, in a deal worth up to €16.4 million. GiG has yet to announce Richards’ successor.