SYDNEY, AUSTRALIA: Mogul Games Group Limited (ASX: MGG) announced Christopher Bergstresser will be appointed CEO and Managing Director of the Company.

Christopher is a senior entertainment executive with 30 years of experience founding, buying and building companies in the gaming and mobile sectors. Most recently Christopher held the role of Executive Director Mogul, was Group Chief Operating Officer of Enad Global 7, a Nasdaq First North listed, Swedish based, games company where he was responsible for building the expansion of the company, through a buy and build strategy (M&A investments) in video games.

Prior to that, as an Investment Executive at MTG (Modern Times Group), Christopher operated in a key advisory role to help MTG broaden its reach into games investment and M&A. MTG operates as a strategic and operational investment holding company managing a unique portfolio including gaming companies InnoGames, Ninja Kiwi and Kongregate.

Across an impressive career Christopher has held senior gaming executive positions in major global gaming and media companies including SEGA, Atari and Konami (working with Microsoft, Disney and ESPN). He is also an experienced founder, having co-founded mobile analytics start-up Appscotch (sold to App Annie), video game software start-up Vector Entertainment and gaming TV producer Gamer.TV.

Christopher’s expert leadership in strategic planning and execution has seen him engaged by many businesses to transform, innovate and drive sustained growth.

He has served as adviser and Board member with multiple companies including Nitro Games, Appscotch and Reflection.io (sold to Game Refinery) and currently sits on the board of Flexion Mobile Inc (listed on Nasdaq First North) and Flagship Games Group.

As CEO, Christopher will be working to leverage Mogul’s existing best in class tournament technology whilst also leading Mogul’s execution of buy and build strategy in the gaming sector.

Christopher, in conjunction with the Board, are working to identify further key appointments to the senior executive team to accelerate the company’s growth through the buy and build strategy and the esport tournament platform. The Company looks forward to updating investors in due course.

Concurrently, the executive appointment of Gernot Abl (Chairman) has been extended. Gernot was appointed as executive chairman in December 2021 for an initial six-month period.

Christopher’s appointment as CEO and Managing Director of the Company will take effect subject to the UK Home Office granting him permission to work for Mogul Games Group (UK). In the interim, Christopher’s appointment as an executive director of the Company has been extended and will continue on a monthly basis until such time as the permission is granted and his appointment as CEO and Managing Director of the Company becomes effective.

Buy and Build Strategy Update

Mogul Games has continued to make significant progress in the execution of its buy and build strategy. Buy and build is a proven approach to achieving significant investor returns – especially in video games.

Initially, the focus will be on profitable small to midsize games companies with strong founder-lead teams, great IP, and engaged audiences to ensure future scalability and continuous growth.

These companies may be Mobile or PC games and include existing or new business models. Mogul Games is confident that it is well-positioned to take advantage of continued consolidation in the sector – especially in light of the broader market downturn.

Under the guidance of Christopher and his M&A team, Mogul has now evaluated in excess of 70 potential acquisition opportunities across multiple geographic regions – including the United States & Canada, LATAM, Europe, and Australia.

Several of these opportunities have now progressed to a more formal due diligence stage and the Company looks forward to updating shareholders on progress as soon as it is able.

With ~A$4.8m currently in cash reserves and no debt, the Company is in a strong position to accelerate execution against its buy and build strategy.

Mogul also continues to field inbound inquiries with regard to its online esports tournament platform from esports organisers and video gaming groups looking to partner with Mogul for their tournament hosting activities. As Mogul onboards game development companies under its buy and build strategy the company will also explore the potential synergies which these targets may be able to extract from our technology.