Major Maltese Gaming Company Removes CEO And Co-Founder Months After Decline In Revenue
Major Maltese gaming company Gaming Innovation Group (GIG) has removed its co-founder and long-standing CEO Robin Reed, in what has been described as a major shock to the local gaming industry.
“Robin has played a crucial part in building a unique one-stop global technology provider and we all owe him our sincere gratitude for this,” GiG board chairman Petter Nylander said. “However, the company now enters into the next phase of its development with different challenges and opportunities and the Board has reached the conclusion that GiG therefore also needs a different leadership.”
GiG’s Chief Operating Officer Richard Brown will become the company’s new acting CEO pending a recruitment process, while Nylander will take on a more active role to support the succession process and the management team.
Reed co-founded GiG alongside Frode Fagerli back in 2008 and the company rapidly expanded, employing hundreds of people and setting up its headquarters in an eye-catching building in the centre of Paceville.
However, it registered a significant 16% revenue loss in the second quarter of this year, with Reed blaming it on stringent regulation in the Swedish market but expressing optimism for the company’s future.
Sigma, Malta’s iGaming summit, described Reed’s removal as a shock to the industry, while the summit’s founder Eman Pulis had fond words to say about him.
“I had the pleasure of meeting Robin when he was still CEO at Guts.com many years ago,” he said in a Facebook post. “Back then I couldn’t even distinguish between affiliate and operator yet he sat across and listened carefully to my pitch. Most eloquent. Wish you the very best that life can throw at you, my man.”
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