A highly experienced executive, Royster officially began his new CFO role at Cage Companies on 1 October. He assumes responsibility for all financial dealings at the business.
Cage Companies adds Royster will play a major role as CFO in supporting its expansion into other key areas such as sports betting, virtual sports and igaming.
Royster joins the business having worked within the education sector since 2008. During this time, he founded Maarifa Education, which owns and operates private universities in Africa.
Prior to this, Royster spent over 11 years executive vice-president and CFO at Urban One. The media business, formerly known as Radio One, targets the African American market.
Cage Companies is majority owned by investment business RLJ Companies.
“The management team at 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,” Cage Companies co-founder and CEO Robert Washington said.
“I look forward to working with Scott and adding significant additional value at the Cage Companies. This includes its owners, the management team and employees, as well as additional significant recurring revenue and taxes for the governments and retailers we serve.”
Royster added: “I am extremely honoured to be joining the Cage Companies at this very exciting time in their history. I look forward to the world hearing a lot more about this incredibly dynamic enterprise in the quarters and years ahead.”