Betsson CEO Departs
Although there appears to have been a lot acrimony surrounding Bengtsson’s tenure on a number of different issues, the results while he was at the helm cannot be ignored.
Canadian online casino players have come to know the Betsson online casino as one of the world’s premiere online gambling destinations. However, a recent spat between the Swedish gaming giant and its (now former) CEO Ulrik Bengtsson has revealed that not all is well at the company:
In reality, Bengtsson’s departure has revealed that despite the appearance of a unified front, there is significant dissension going on behind the scenes whose ultimate impact remains to be seen.
Turkish Strategy Key
The biggest reason for the split appears to be the company’s decision to continue and potentially even increase, its presence in the nation of Turkey. The country has a seen a significant shift in the nature of regulation there, with authorities vowing to crackdown on online gambling.
However, Betsson has traditionally enjoyed a strong presence there, with Turkey being one of its key revenue markets. It appears that Bengtsson had qualms about continuing to operate there, and he received a lot of pushback from other key internal players to the point of being overruled.
Interim CEO Named
Bengtsson’s departure has left a hole at the top of management that will need to be filled. Currently, the company’s board has given the post to chairman Pontus Lindwall as a bridge to an eventual permanent replacement. Lindwall already has experience in the position — he was CEO as recently as 2016.
Although there appears to have been a lot acrimony surrounding Bengtsson’s tenure on a number of different issues, the results while he was at the helm cannot be ignored. Betsson has enjoyed strong growth worldwide, with the most impressive gains — nearly 70% — coming from the very saturated western European market in Q2 of this year.
Overall, it’s widely anticipated that the company will continue to post strong growth moving forward. However, it’s undeniable that the departure of a key senior management figure under these circumstances will certainly have some effect in the coming weeks and months.