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Redbet Replaces Sundvall With Bjork

Swedish online gambling provider appoints new Business Development Manager following last month’s decision to restate its 2008 financial results.

Monday 29th June 2009

Swedish online gambling provider Redbet Holding AB has announced that Andreas Bjork has been appointed as Business Development Manager following the departure of Jonas Sundvall. Sundvall has also served as Executive Director for the Stockholm-based firm and is the first senior member to leave following Redbet’s decision late last month to restate its results for 2008 due to financial discrepancies. Last year’s pre-tax profit was eventually lowered by $1.82 million to $1.48 million following a review by the firm’s management team. It stated that this was due to a lowering of the previously reported full-year net income from gaming operations by $626,524 alongside a $808,738 write-down relating to its Pullman subsidiary. There was also an increase of over $313,000 in personnel expenses with Redbet announcing an additional delay in the publication of its first quarter 2009 financial results. Redbet’s ambition is that over time we grow faster than the market,” said Torvald Bohlin, Chief Executive Officer for Redbet. “This ambition entails some challenges including defending our already strong position in the Scandinavian poker market. “We will also rapidly expand other forms of gambling to attract more players in more markets, where an important step is within a few weeks before the impending launch of a new gaming platform for all forms of gambling. With his knowledge and experience, Andreas will be able to contribute to the rapid positioning movements and market developments that Redbet faces.”

Source: OnlineCasinoNews

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