The governance of Swedish state-owned gambling enterprise Svenska Spel ends its six-month executive search to replace outgoing leader Lennart Käll, confirming the appointment of Patrik Hofbauer as new Group CEO.
A seasoned media executive, Hofbauer joins Svenska Spel’s leadership team, from leading Scandinavian telecoms operator Telenor Sverige where he most recently served as CEO (2014-2018).
Entering 2018, Svenska Spel confirmed the upcoming departure of Lennart Käll leader of the state-owned gambling operator since 2011.
Svenska Spel governance confirms that Hofbauer will begin leadership duties in December 2018, as Sweden is set to introduce its new gambling bill introducing a new online gambling regulatory framework.
Hofbauer takes leadership of Svenska Spel in what will likely be a period of transition for the Swedish legacy enterprise.
As Sweden moves to liberalise its online gambling market, Scandinavian gambling executives have asked that the Swedish government clarify the future position of Svenska Spel as a government-backed enterprise.
In its presentation of Sweden’s new gambling framework, the government has reiterated that it will not sell any part of Svenska Spel to private institutions.
Nevertheless, the future of Svenska Spel divides Swedish MPs, who are split between those who support the monopoly as a fundraiser for social and charitable initiatives, versus MPs who believe Svenska Spel’s current format should be split in order to service an efficient and fair Swedish gambling sector.
Further to its market update, Svenska Spel as further detailed that Group CFO Marie Loob will continue to serve as acting-CEO until Hofbauer joins the firm in December.