Ulrik Bengtsson is stepping down from his functions as the CEO and presidents of Betsson AB. The decision comes with an immediate effect, following the conclusion that was taken by both Mr Bengtsson and the company’s board of directors.
The shock departure has not been so far followed by any clear reason that prompted the parties involved to come to these decisions. However, rumours point towards a disagreement that took place regarding the company’s dealings in the Turkey’s black market.
The eGaming Review news outlet reported that the board of the company and Bengtsson clashed over to the future of the Turkish face of the business. In 2010, Realm Entertainment, licensed in Malta purchased Betsson’s list of Turkish clients, after a B2B partnership was forged. Since then, gambling in Turkey has come under pressure as the government vows to begin a two-year campaign against both online and physical casinos.
Publicly, the spokesman of the company, speaking to the Times of Malta said that the board was happy with the strategy and the results achieved by Bengtsson during his time on these positions.
The spokesman stated that in those moments when the CEO and the Board disagree on some major issue, the standard practice includes the possibility of the CEO stepping down. In this case, Betsson decided to do the same and leave immediately once the decision has been made.
As the spokesperson stated, Bengtsson is leaving with a very strong record. The company was able to grow annually by 26% and reached in the second quarter of 2017 the revenue of over €123 million. The main drivers of growth were strong performances achieved by its sportsbook and its core casino components.
When the process is adjusted for the value of the acquisitions deals made during this and previous year, the organic growth for the company is measuring about 15%. Under Bengtsson, the company attained NetPlay TV, which is a Premier Casino licensed in Spain, but also Tonybet of Lithuania and RaceBets, niche operator working in the field of horse racing.
Pontus Lindwall will be arriving at the position of Betsson AB CEO until a brand new professional is recruited to this position. The position of the chairman of the board will be appointed to Patrick Svensk, a regular board member.
Mr Lindwall stated that Ulrik Bengtsson did an excellent job for the company during the five years he spent in this position. He said that Bengtsson managed to clarify the company’s strategy but also undergo important product launches. This is why Mr Lindwall extends the gratitude of the board and his personal thanks for the efforts the former CEO made.
At the same time, the board began a process to bring to the company a new CEO who will permanently take this position with the Betsson AB.
The chief commercial officer working for the BML Group, Jesper Svensson, has been appointed to be the acting CEO working in the Malta’s subsidiary of this company.
As the biggest gaming company working in Malta, they employ over 1,000 as of a few months ago. The company has been operating in the country ever since 2004 but is currently engaged in a range of legal confrontations in the countries of the EU, including Netherlands and Hungary.
At the same time, previously mentioned acquisitions in the region allowed the company’s revenue for the Western European market to rise by almost 70% in the second quarter of 2017.
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