PRESS RELEASES

GIG announces far-reaching organizational update

TAGs: Gaming Innovation Group, Robin Reed

Gaming Innovation Group Inc. (OBX: GIG) announces far-reaching updates to organizational structure merging recently acquired BetitGroup online casino operator brands (Kaboo.com, SuperLenny.com, Thrills.com) under one B2C gaming organization with previously owned Guts.com, Betspin.com and Rizk.com.

GIG announces far-reaching organizational updateIn an open letter addressed to all employees, partners, clients and shareholders, CEO Robin Reed and COO Mikael Ångman of GIG clarify recent events and future plans while highlighting the announcement of Tomas Bäckman (profile image see appendix 1), previously CEO in BetitGroup, to the position of CEO in Gaming Innovation Groups newly created B2C organization.

Bäckman is now to lead the charge for GIG to become “the leading iGaming operator in the Nordics”. The open letter reads as follows;

Dear All,

The 28th of June, the company entered into a Memorandum of Understanding of acquiring BetItGroup. In effect we were forming a top five operator in the Nordics in terms of revenue. This is a great achievement given both companies are less than four years old. The current growth rate is astonishing. For the full year of 2015 we did 14.5m in revenues. In the last quarter 2016 we surpassed 17m. The combined entity is aiming to become the leading Nordic operator.

Following the announcement of the merger, the board, Group Mgmt. as well as selected members of the Mgmts.’ of the respective companies, has engaged in a project to deliver an organization that will continue to promote the product innovation and user experience we are known for, whilst benefiting from the increased synergies and scale. Combined we have exceeded 200 staff and have a fantastic opportunity to design our future.

We are delighted to announce the promotion of Tomas Bäckman, previously CEO in BetItGroup, to the position of CEO in Gaming Innovation Groups newly created B2C organization; as such he will spearhead this work going forward. Having B2C Gaming administered under a clear leader will lead to more focus however our aim is to not sacrifice any plurality, flexibility, innovation or sub-culture, in which we are currently benefiting from. Preparation is already being made for a new brand. We will all benefit from more resource, co-operation and collaboration.

Tomas (36) is father of one, living with his partner in Sliema, Malta, where he has resided since 2010. After his tenure as MD for NordicBet, he went on to work with Casumo, before joining BetIt. Tomas has occupied the role of CEO at BetIt Group since June 2015 with success. Through these roles he has gained a range of skills and competences required for
the job ranging from the commercial aspects, to management and products. Being a young leader he is modern in his approach and believes in freedom within responsibility.

As such we have heavily weighted our impression of Tomas as a genuine person and team player, when making this decision. We are sure he is someone we feel would fit very well
into our people oriented culture.

He will take on the overall responsibility for Gaming Innovation Group’s newly created B2C, whereas the managers of our 6 brands; Guts, Rizk, Thrills, SuperLenny, Kaboo and Betspin, will be his direct reports. He will firstly focus on getting the C-level management in place with the ambition of having it done pre-Christmas and secondly, together with his C-level, work on the various roles and responsibilities throughout the new B2C, in conjunction with managers of the respective companies.

A word from Tomas; “I’m really thrilled and looking forward to get the chance to run the GIG B2C organization. Together we are stronger and I’m confident that it will be an amazing ride the coming years where we will become the leading iGaming operator in the Nordics. I will have individual meetings with all the teams (Betit, Guts, Betspin and Rizk) in the coming days to talk a bit more about the future and answer potential questions”

Background to the acquisition:
The goal of the BetItGroup acquisition is to create the leading iGaming operator in the Nordics. The background to the merger as such was the identification of a strategic opportunity and GIG´s growth strategy. The acquisition of BetIt was a mean to accelerate this strategy by uniting two like-minded, ambitious, talented and driven organizations, into a common vision.

Clarifications on the merger:
A steering committee was created, with individuals from both companies, in the middle of September with the goal of identifying quick wins between the 6 brands as well as presenting a structure for the future B2C organization focusing on scalability, innovation and best culture. We will unite the organizations gradually and some unification will happen in Q4 this year. More info to follow. We will have a united GIG and BetIt Organization, at latest, within Q2 next year. The operator organization will consist of a C-Level executive management where Tomas will spearhead the organization as CEO.

The new organization (organizational chart see appendix 2) will develop on existing cultures within BetIt, Rizk and Guts/Betspin whereas the operator organization’s (Guts/Betspin, BetIt, Rizk) will merge into one company (GIG Gaming – working name) acting under the CEO. The organization will be spread across Marbella and Malta with some localized roles in other markets where best fit.

Please join us in congratulating Tomas on his well-deserved promotion. We would like to wish him the best of luck in his new role and we’re confident he will use, and further leverage, his extensive knowledge and experience from the iGaming industry in GIG for many years to come.

Kind regards,
Robin/Mikael

About GIG:
Gaming Innovation Group Inc. is an emerging gambling solutions and interactive entertainment provider. The Group offers cutting-edge Cloud based Services and B2B Performance Marketing, and owns B2C gambling operators offering games from the best-of-breed suppliers across the online sports betting and casino industry. Gaming Innovation Group operates out of Malta and is listed on the Oslo Stock Exchange under the ticker symbol “GIG”.

For more information about the Group and our services:
https://gaminginnovationgroup.com
https://igamingcloud.com
https://www.guts.com
https://www.betspin.com
https://www.rizk.com
https://www.thrills.com
https://www.kaboo.com
https://www.superlenny.com

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