Reed replaces Kjetil Myrlid Aasen, who had been in the role for just 12 months having only been appointed to the position in May 2014.
Despite stepping down as chief executive, Aasen will continue to work with the company on various projects related to sports betting.
Reed, who has been with the company since 2009, takes on his new role having previously served as managing director and founder of GIG’s Malta subsidiary.
The change in senior management comes after the company last month opted to rebrand from Nio to GIG in order to better reflect its core operating activities.