Tekkorp Capital founder and chairman will join Bragg Gaming’s board of directors following closing of the proposed transaction
Bragg Gaming Group is set to appoint seasoned gaming industry executive Matt Davey as its new chairman, as the company executes its next phase of growth.
Subject to the completion of the proposed acquisition of Drayton, Davey will join Bragg’s Board of Directors as non-executive chairman, succeeding Holly Gagnon, who will remain on the Board as an independent director.
Bragg said that Davey’s experience and expertise is uniquely fitting for Bragg’s rapid evolution into a games-first leader.
“We believe that Matt’s experience building and scaling global gaming platforms, particularly as a leader in innovating the distribution of gaming content, combined with his deep industry relationships, will be invaluable as we execute on this next phase of growth,” said Bragg CEO Matevž Mazij. “With the right team, the right technology, and a clear games-first focus, Bragg is positioned to lead the future of the global gaming industry.”
In February, Davey purchased a block of 1 million Bragg common shares in a private transaction with Mazij.
Bragg estimates that private stock purchase, combined with Davey’s current Drayton private stock ownership, will result in him having an approximate 10 per cent ownership stake in Bragg following completion of the planned acquisition.
“Bragg has built a strong foundation as a global B2B iGaming supplier and its planned acquisition of Drayton adds a highly complementary set of assets across games, technology, and distribution that accelerate its new push to focus on being a data-rich, content-first, user experience-obsessed organization,” said Davey. “Bragg combines a potent combination of smart technology and brand heritage that is ready to scale into new markets with its growing number of tier-one partners.
“After discussions with Matevž, his team, and other Board members, I am excited to invest my time and energy to help accelerate growth, drive operational performance, and enhance shareholder value. It’s clear we have a first-rate team, premium iGaming offering, and now a new vibrant aesthetic which I’m confident will be attractive to the market.”
Gagnon commented: “It has been an honor and a privilege to serve on Bragg’s Board since 2021, and as chair since early last year. Moving forward, the Board and management team will continue to be steadfast in our aim to increase shareholder value.
“To that end, as Matt is a gaming industry luminary who has earned my deep personal admiration and great professional respect, I am confident that I will be passing the chair’s torch into the right hands.”
Shares in Bragg Gaming Group Ltd (TSX:BRAG) were trading 16.49 per cent lower at CA$2.43 per share in Toronto following the release of its Q1 financial results and proposed acquisition of Drayton.