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Silvia Pavlof January 11, 2023 3 min read
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Michael Ahearne Leaves GiG Board of Directors
Gaming Innovation Group Inc. (GiG) director Michael Ahearne has resigned from his post as a member of the board of directors
Michael Ahearne’s resignation is with immediate effect as he will be focusing on his job as CEO of SkyCity Entertainment Group.
Michael Ahearne Joined the GiG Board After the Company Acquired Sportnco
Michael Ahearne has been part of the board of directors of iGaming company GiG since April 1, 2022, when the company finalized its acquisition of sports betting solutions provider Sportnco. As a result of the acquisition, SkyCity Entertainment Group became one of GiG’s shareholders.
As part of his job as a board member, Ahearne has closely monitored the business operations of GiG. Ahearne has commented that he is very happy with the way the company is developing and its market position within the iGaming sector.
However, as Ahearne is also the CEO of SkyCity Entertainment Group, he has decided to focus more on his work in leading the company and particularly on its operations in New Zealand and Australia. Therefore, Ahearne has decided to step down from the GiG board of directors.
GiG and its board of directors have expressed their gratitude for Ahearne’s input and exceptional service to the company and wish him all the best in his future projects.
GiG Board Members to Be Determined in May
GiG will hold an annual general meeting for all shareholders in May. SkyCity Entertainment is part of GiG’s nomination committee and will take part in the proposition for board members who have the necessary competence, satisfactory experience, and will be able to prompt the positive development of the company.
After the resignation of Ahearne, the current board of GiG is constituted by the following members: Petter Nylander (chairman), Nicolas Adlercreutz, Kathryn Moore Baker, Mikael Riese Harstad, Kjetil Garstad, and Hessi Mocca.
Sportnco Acquisition Expanded GiG’s Product Portfolio
GiG completed the acquisition of Sportnco in April 2022. The deal was worth €51.37 million ($55.2 million) and resulted in the issuance of 26,110,900 new GiG shares. 12,623,400 of the shares were allocated to Sportnco shareholders and 13,487,500 were directly issued to SkyCity Entertainment shareholders. After the acquisition, SkyCity Entertainment’s share in GiG became 10.98%.
Sportnco has operations and licenses in B2B verticals in France and Spain and other EU counties such as Belgium, Portugal, and Greece. It also operates in a few Latin American markets. As a result, after the acquisition, GiG became the holder of 25 licenses worldwide.
Additionally, GiG is now able to leverage the sports betting solutions which are part of Sportnco’s product portfolio and, thus, expand its own product offering.
Silvia has dabbled in all sorts of writing – from content writing for social media to movie scripts. She has a Bachelor's in Screenwriting and experience in marketing and producing documentary films. With her background as a customer support agent within the gambling industry, she brings valuable insight to the Gambling News writers’ team.
Industry January 11, 2023
Industry January 11, 2023