Montreal-based React Gaming retains Leigh Hughes as CEO

November 14, 2022 12:07 PM

Montreal-based React Gaming retains Leigh Hughes as CEO

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  • Rege Behe, CDC Gaming Reports
November 14, 2022 12:07 PM
  • Rege Behe, CDC Gaming Reports
  • Canada
  • Igaming
  • Suppliers

Montreal-based esports and igaming company React Gaming Group Monday announced it is retaining Leigh Hughes as its permanent CEO. Hughes was named interim CEO in June 2022, replacing president and CEO Laurent Benezra.

“Leigh has proven to be a strong leader since his appointment as interim CEO in June and we are thrilled that he has agreed to remain as React Gaming’s permanent CEO,” said Philip Nolan, a director for React Gaming, in a statement. “His strong business acumen and his leadership have allowed us to work as a team and have already delivered some very positive results, namely through the various partnerships that have been executed and our ongoing activities to drive growth. We believe that Leigh has the capacity to unlock React Gaming’s full potential and create sustainable long-term value for our shareholders.”

Hughes is an entrepreneur and venture capitalist with over 20 years of experience working with private and public companies, notably in North America, Australia and the Asia-Pacific region. He is the founder of COMVERJ Ventures, which has helped clients in the United States, Canada, Australia and Europe identify opportunities with mergers and acquisitions, capital markets, business strategy, and innovation.“Since my appointment as interim CEO, our team has been working relentlessly to achieve React Gaming’s objective of becoming a leader in the esports space,” Hughes said. “Over the last few months, we have been laying solid foundations that will enable us to grow our various subsidiaries in the B2B and B2C markets, while continuing to prioritize revenue generation and profitability. Our current financing and proposed new share structure, which have been well received by existing and new investors, will also support our growth initiatives, on which we hope to share news very soon. My ultimate goal as CEO and a major shareholder is to create an exit strategy that will be beneficial for all our shareholders.”

React Gaming also announced details of a proposed 4:1 share consolidation of its issued and outstanding share capital. At its upcoming annual and special meeting Nov. 17, shareholders will be asked to consider and, if deemed appropriate, to pass, with or without variation, a special resolution approving the share consolidation on the basis of four pre-consolidation common shares for each post-consolidation common share.

React Gaming currently has 167,439,734 common shares issued and outstanding. Following the share consolidation, the corporation will have approximately 41,859,933 common shares issued and outstanding prior to rounding for fractional common shares.React Gaming’s portfolio includes Loot.Bet, Compete.gg, Parabellum Esports, Generationz Gaming, and Team BH.

Rege Behe is lead contributor to CDC Gaming Reports. He can be reached at rbehe@cdcgaming.com. Please follow @RegeBehe_exPTR on Twitter.