CAGE is licensed to operate video lottery and video gaming terminals, Sports Betting, Virtual Sports and iGaming around the Caribbean Community and South America
BETHESDA, Md. and MIAMI, Oct. 10, 2023 /PRNewswire/ — The CAGE Companies (an RLJ Companies majority-owned company), a leading operator of gaming systems, terminals and games in the Caribbean Community and South America today announced the appointment of Scott Royster as its new Chief Financial Officer (CFO), effective October 1, 2023.
“We are excited about Scott joining the CAGE Companies as its new CFO and sharing his vast experience as a CFO, entrepreneur and investment banker as CAGE continues its strategic growth and diversification into Sports Betting, Virtual Sports and iGaming. Scott has also previously served as a Director of one of my companies, RLJ Entertainment, said Robert L. Johnson, Founder of The RLJ Companies and majority owner of the CAGE Companies.
Mr. Royster brings a wealth of financial leadership and experience to the CAGE Companies and will play a crucial role in driving the financial growth, discipline, and strategies at CAGE. Mr. Royster was involved in the private equity industry in the late-1980s and moved to the radio industry when he joined a small radio company that within five years of his becoming their CFO it became one of the largest radio companies in the United States.
“The Management Team at the CAGE Companies, with the addition of Scott, will be strengthened and have additional experience and leadership in the key areas of accounting, finance, investments, banking and wealth generation,” said Robert B. Washington, Co-Founder, Chairman & CEO of the CAGE Companies. “I look forward to working with Scott and adding significant additional value at the CAGE Companies for its owners, the management team and employees, as well as additional significant recurring revenue and taxes for the governments and retailers we serve.”
Mr. Royster spent approximately half of his career at Radio One, Inc. (now Urban One, Inc.), one of the largest media companies targeting the African American market. He joined Radio One as its CFO in 1996. At the time, it owned seven radio stations in two cities, and over the course of the next 12 years, Mr. Royster helped build that company into a diverse media conglomerate which, at peak size, owned more than 70 radio stations in 22 markets, a cable channel (TV One), content and publishing assets and a growing Internet presence. Among many other things, Mr. Royster was part of the executive team responsible for the company’s 1999 IPO and many following on offerings and helped raise more than $3 billion of capital over the course of his tenure. In 2006, Mr. Royster was named the Broadcasting Industry’s CFO of the Year by Institutional Investor magazine.
“I am extremely honored to be joining the CAGE Companies at this very exciting time in their history,” said Royster. “To have the opportunity to work closely with Bob Johnson and Bob Washington and the amazingly talented team of CAGE colleagues represents a wonderful next journey for me and I look forward to the world hearing a lot more about this incredibly dynamic enterprise in the quarters and years ahead.”
More recently, Mr. Royster has become a change agent in the education industry, first through the development of an education partnership business model to address the 21st century needs of the African American market in the United States and, in 2012, Mr. Royster developed the idea behind and was the first CEO of Maarifa Education, a first-of-its-kind owner and operator of private universities in Africa, backed by one of the largest private equity investors on the African Continent.
In addition to his business interests, Mr. Royster has many philanthropic interests and has sat on the Board of the Arena Stage Theatre in Washington, DC, as well as the Board of Visitors of Duke University and the Visiting Committee of the Harvard Business School. Mr. Royster is a graduate of Duke as well as HBS. Mr. Royster has homes in Washington DC and Nairobi Kenya.
About The RLJ Companies
The RLJ Companies, founded by Robert L. Johnson, is an innovative business network that provides strategic investments in a diverse portfolio of companies. Within The RLJ Companies portfolio, Johnson owns or holds interests in businesses operating in a publicly traded hotel real estate investment trust; private equity; 401k fintech services; automobile dealerships; content streaming; gaming and sports betting. The RLJ Companies is headquartered in Bethesda, MD with affiliate operations in Charlotte, NC, Little Rock, AR and San Juan, PR. Prior to founding The RLJ Companies, Johnson founded and was chairman of Black Entertainment Television (BET).
For more information visit: www.RLJcompanies.com.
About the CAGE Companies
CAGE Companies are focused on the installation, operation and management of video lottery and video gaming terminals, linked gaming systems and game content including Sports Betting, Virtual Sports and iGaming throughout the Caribbean and South America. The CAGE Companies were co-founded by Robert L. Johnson and Robert B. Washington in 2004 for the purpose of bringing superior VLT and Video Gaming Terminals, central computer systems and exciting, new downloadable game content to targeted South America and Caribbean countries with the goal of enhancing local economies and creating local entrepreneurial and employment opportunities. The CAGE Companies is headquartered in St. Thomas, US Virgin Islands with offices and/or operations in Antigua and Barbuda, Barbados, Guyana, the Dominican Republic, St. Kitts and Nevis, Saint Lucia, Sint Maarten and Puerto Rico.
SOURCE The RLJ Companies
