More resignations at Swedish gambling monopoly

09.05.2008

Decisions by the board of directors at Sweden's state-owned gambling monopoly Svenske Spel continue to create disquiet among some managers, leading to the resignations of a further two executives in the wake of the departure last week of CEO Jesper Karrbrink

The board, headed by recently appointed Margareta Winberg, a former Deputy Prime Minister, has demanded a change in approach which will see more emphasis on responsible gambling following years of vigorous and at times aggressive marketing. In a political sense, the government is undoubtedly keeping an eye on European Commission developments after accusations that it unfairly excludes gambling services from other EU member nations.

This week the head of Internet, Telephone and Retail Betting at the company, Matthias Hedlund, and Annica Axelsson, head of the Bingo, Casino and Restaurants Division submitted their resignations.

In an interview with the E24 news service Hedlund explained the motivation for his departure, citing increased political involvement in Svenske Spel and the risk that the revised strategy may hamper the development of the company as far as its ability to compete with the broader market was concerned.

Describing the new approach as a "change in ambition," Hedlund told E24 that he would have liked to develop a competitive edge in Svenske Spel at the same time as maintaining a commitment to social responsibility. "But with the new direction, I am not the right person for the job."