Patrik Hofbauer, the President and CEO of Svenska Spel, has introduced his departure from the agency, powerful January 31, 2024.
After a five-yr tenure, Hofbauer is ready to take in the placement of President and CEO on the Swedish telecommunications agency, Telia, on February 1, 2024.
Erik Strand, Chairman of the board of Svenska Spel, stated: “Patrik’s private management has navigated Svenska Spel thru the reregulation of the gaming marketplace in 2019 and he, collectively with the board and his team, has set a clean destiny schedule and strategy.”
Reflecting on his time at Svenska Spel, Hofbauer said: “It isn’t always an clean selection to alternate roles or go away a agency that I fee so deeply.”
The board of Svenska Spel is now withinside the system of recruiting a brand new President and CEO to steer the agency forward.
Hofbauer’s departure comes withinside the wake of discussions approximately the potential divestment of Svenska Spel, with a few politicians and stakeholders advocating for the state-owned operator to go out the aggressive gaming marketplace, mentioning issues approximately credibility and regulation.
The agency has additionally confronted scrutiny for violating marketing and marketing laws.
However, throughout Hofbauer’s tenure, Svenska Spel published a 2% annual growth in revenue, totalling SEK 1.nine bn ($180m) withinside the first sector of 2023.
The on line commercial enterprise section of Svenska Spel additionally extended by 8% throughout the identical period.
Hofbauer’s tenure witnessed collaborations, inclusive of a partnership with Playtech to beautify poker services for the Swedish marketplace and an extension of the partnership with IGT to leverage lottery generation and services.