Gaming Innovation Group CFO Phil Richards Departs After Two Years

Gaming Innovation Group (GiG) has confirmed the departure of Chief Financial Officer Phil Richards after two and a half years. Richards left on November 2, 2026, and will join software company Chaos as CFO in December.

Good to know

• Phil Richards leaves GiG following the completion of its €16.4 million 888Africa acquisition.
• GiG reported lower Q3 2026 revenue shortly before announcing the CFO departure.
• The company has started searching for a replacement, with Richards available to assist during the transition.

GiG Faces Leadership Change After 888Africa Deal

The departure comes at an important time for GiG, which recently completed its acquisition of an 80% stake in 888Africa from Evoke.

The €16.4 million transaction brought GiG back into consumer-facing online gambling after several years of focusing on B2B gaming technology.

The acquisition also gives GiG direct access to African gambling markets, including Mozambique, Angola, and Tanzania.

Richards previously described 888Africa as a “strategic bridgehead” for the wider platform business.

“That dual value is really the point of the deal,” he explained in September. “Owning a leading local operator gives us direct, ground-level insight into regulatory developments, player behaviour and payment infrastructure across several African markets; insight that is very difficult to build from the outside.”

Meanwhile, the latest financial results showed GiG revenue declining from €9.7 million to €8.5 million in Q3 2026. Operating losses widened to €4.3 million, compared with €3.5 million a year earlier.

However, GiG expects the integration of 888Africa to support growth in 2027, forecasting combined revenue of €85 million to €90 million.

Phil Richards Prepares for New CFO Role at Chaos

Richards joined GiG in July 2024 after nearly six years in senior finance positions at sports betting technology provider Kambi.

His earlier career included CFO responsibilities at Corero Network Security and roles at Shell and KPMG.

During his time at GiG, Richards helped oversee the company IPO, improvements to financial reporting, investor relations, and the 888Africa transaction.

In a LinkedIn post, Richards said October was his final month at GiG and confirmed plans to become CFO of design and visualisation software developer Chaos in December.

GiG CEO Richard Carter thanked Richards for his work during a period of corporate changes.

“On behalf of management and the board, I would like to thank Phil for his contribution to GiG,” Carter said. “He has played an important role in the company’s financial reporting, investor relations and corporate development activity, and we wish him well for the future.”

GiG has already started looking for a new chief financial officer. Until then, the company has arranged financial reporting and regulatory oversight procedures to maintain continuity.

Richards will also remain available to assist with the handover, although GiG has not announced when it expects to appoint a successor.

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