Patrik Hofbauer is to depart as President and Chief Executive Office of Svenska Spel in the new year to take up a similar position at telecommunications firm Telia Company. The group serves 25 million customers across the Nordic and Baltic regions.
After informing the board of his decision to exit the company, a process has subsequently commenced to name a permanent successor.
Hofbauer will officially leave Svenska Spel on January 1, 2024, before taking up his new assignment one day later.
“Through his solid knowledge, great commitment and brilliant leadership qualities, Patrik Hofbauer has successfully led Svenska Spel during a time of major changes for the company,” commented Erik Strand, Chair of the Board Svenska Spel.
“Svenska Spel is today a modern company that delivers sustainable gaming experiences. Patrik’s personal leadership has navigated Svenska Spel through the reregulation of the gaming market in 2019 and he, together with the board and his team, has set a clear future agenda and strategy.
“Patrik is a person and company leader who makes a real difference and on behalf of the board I would like to extend a warm and big thank you to him for his valuable contribution to Svenska Spel.”
Upon leaving the online casino and sports betting operator, Hofbauer will draw the curtain on a new five year stint at the former Swedish monopoly.
Earlier this year, Svenska Spel reported a digital driven first half of the year, with the group’s online division helping to offset struggles witnessed in the retail casino and slots segments.
Hofbauer stressed an ongoing ambition of “simplifying and enhancing the gaming experience for customers”, as the group reported that net gaming revenue remained largely stable at SEK 1.97bn (2022: SEK 1.963). Operating profit increased three percentage points to SEK 550m (2022: SEK 531m).
“In recent years, I have had the privilege of leading the Svenska Spel. It has been a fantastic journey together with our customers, partners and, not least, employees,” Hofbauer reflected.
“It is not an easy decision to change roles or leave a company that I value so deeply. With a strong culture, a clear values compass and enormously committed employees and leaders, Svenska Spel is in a position to continue delivering value for our customers, Sweden and the Swedish sports movement.”
