Betsson CEO Ulrik Bengtsson Steps Down

(Photo: Theworldfolio.com)

After a five-year run at Betsson that included the last year and a half as president and CEO, Ulrik Bengtsson has announced that he and the Swedish gaming company are parting ways effective immediately.

The abrupt departure is apparently the result of a difference in strategic priorities between Bengtsson and the board of directors. The ex-CEO told Svd.se that it was time for him to move on.

"We have some different perceptions about some priorities in Betsson," Bengtsson said. "I've been in the group for quite some time. It's better to go to different directions."

Changing Roles and a Changing Industry

Pontus Lindwall, who previously assumed chairman of the board duties at Betsson, will take on the role of interim CEO. Patrick Svensk will transition from board member to board chairman, at least until a permanent CEO takes the reins. Jesper Svensson was named acting CEO of the company's subsidiary in Malta.

"Ulrik Bengtsson has done a good job for Betsson," Lindwall stated in a press release, adding that the former president of the Stockholm company "clarified the strategy and implemented significant product launches."

The gaming industry is constantly changing with regard to regulation and licensing requirements in various countries. That includes the top regions targeted for customers by Betsson such as Turkey and the Netherlands.

Foreign gaming companies like Betsson saw Dutch authorities place restrictions on their operations earlier this year, a development that Betsson said was against European Union legislation. Led by Bengtsson, Betsson made its complaint of the tightened rules known to the EU Commission.

Betsson launched a new mobile sportsbook last month on its brands that include Betsafe and Nordicbet. Bengtsson called the new offering "a major improvement" and added that feedback from customers was very positive.

The company has already begun its search for a new president/CEO.