Betsson is strengthening its management functions in preparation for continued expansion
During recent years, Betsson has had a higher rate of growth than the market average and this has been combined with strong profitability. Betsson plans to continue to expand rapidly both in its core markets, as well as in new, potential markets, such as in China and India. The markets for Internet-based gaming continue to grow rapidly, whilst, at the same time, licensing at national levels displays a trend towards increased tolerance. All in all, this creates major possibilities for Betsson, at the same time as increasing the complexity of continued expansion. In order to ensure that Betsson can continue to expand on its own, well-controlled terms, in a rapidly changing environment, Betsson’s owners and board have worked to broaden and strengthen the company’s management functions.
Consequently, the owner representatives in the Nominating Committee propose that the current Chief Executive Officer and Group President, Pontus Lindwall, be elected to the board at the annual general meeting of shareholders on 12 May 2011. Furthermore, the Nominating Committee proposes that Pontus Lindwall assume the position of working Chairman of the board in Betsson AB from 1 July 2011. It is proposed that Lindwall retain his employment in the company and current compensation, which implies that no board fee will be payable to Lindwall. The current Chairman of the board, John Wattin, is proposed to continue his work for Betsson as board member in Betsson AB.
The board intends to appoint the current Chief Executive Officer for Betsson Malta Ltd., Magnus Silfverberg, to new Chief Executive Officer in Betsson AB from 1 July 2011, to work in Stockholm. A new Chief Executive Officer in Betsson Malta Ltd. will be appointed within the near future.
Lindwall will lead the work of the board and will work with long-term strategic issues in a rapidly changing Internet world.
“Through this change, we are strengthening the management functions and, thereby, ensuring the quality of our continued expansion,” notes Chairman of the board, John Wattin.
Pontus Lindwall, CEO and President, telephone +46 (0)8 506 403 10
Betsson AB’s Core Business consists of investing and administering shareholding in companies, which through partners or by themselves, offers games to the end users via the internet. Betsson AB owns Betsson Malta which operates games through partnerships and the websites www.betsson.com , www.casinoeuro.com and www.cherrycasino.com. Betsson Malta offers Poker, Casino, Sports betting, Scratch Cards, Bingo and Games. The customers mainly orginate from the Scandinavian countries and other parts of Europe. Betsson AB is listed on NASDAQ OMX Nordic Mid Cap List, (BETS).