An internal strategic move which is avidly being discussed today within the iGaming community is that of GiG’s Marcel Elfersy.
M&A Advisory post-spinof
The Chief Commercial Officer for Platform and Sportsbook at Gaming Innovation Group (GiG), has announced a shift in his role to focus on mergers and acquisitions (M&A) advisory.
Elfersy’s new position, officially titled “Adviser to the CEO and Board on Corporate Development and M&A,” raises intriguing possibilities regarding GiG’s post-spinoff strategy, particularly in prioritizing acquisitions.
Elfersy, a seasoned industry veteran with an impressive 12-year stint at 888 Holdings, expressed his enthusiasm for the new role. He acknowledged the efforts of his commercial team over the past year and extended best wishes to Andrew Cochrane, GiG’s new Chief Business Officer.
Elfersy’s departure from the day-to-day operations of the commercial team indicates a strategic realignment within GiG, emphasizing a focus on corporate development and M&A activities.
The decision comes at a pivotal time for GiG as the company is undergoing a significant transformation. The ongoing spinoff of its Platform and Sportsbook division from the wider affiliate business, initiated in February 2023, aims to streamline operations and enhance strategic and financial flexibility for each business segment. The move positions Elfersy’s transition to an M&A advisory role as a key element in shaping GiG’s future direction.
Recent deals and leadership changes
GiG has a history of engaging in M&A activities across its affiliate and gaming divisions. Notably, the acquisition of Sportnco in April 2022 played a pivotal role in strengthening its sportsbook division.
Recent deals, such as the €35 million acquisition of iGaming affiliate KaFe Rocks announced last week and the finalization of the Askgamblers.com deal in January, reflect GiG’s commitment to strategic expansion and market positioning.
The decision to spin off the Platform & Sportsbook division from the affiliate business reflects GiG’s dedication to refining its focus and leveraging the distinctive business models of each division. This restructuring allows both segments to operate with greater autonomy, responding more effectively to market dynamics and fostering strategic growth.
Emphasis on acquisitions
Former SBTech Chief Executive, Richard Carter, was appointed in mid-September to lead the Platform & Sportsbook division as it transitions into a standalone business. Carter’s extensive industry experience positions him well to navigate GiG through this phase of evolution, providing leadership during the spinoff.
Marcel Elfersy’s move to an M&A advisory role aligns with GiG’s historical emphasis on strategic acquisitions. As the company continues to evolve, Elfersy’s expertise will likely play a crucial role in identifying and executing potential deals that align with GiG’s vision and growth objectives.
The leadership changes at GiG extend beyond Elfersy’s move, with the recent appointment of Andrew Cochrane as Chief Business Officer at the beginning of the month. Cochrane, previously Senior Vice President Commercial at DraftKings, brings a wealth of industry knowledge to his role, contributing to the ongoing evolution of GiG’s leadership team.
In conclusion, GiG’s strategic pivot, marked by Marcel Elfersy’s shift to an M&A advisory role, signals an exciting chapter for the company post-spinoff. As GiG navigates a changing landscape, the combination of strategic acquisitions, leadership expertise, and a refined business focus positions the company for continued success in the dynamic gaming industry.
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