Betsson to lay-off 160 employees

30 Jan 2018

Betsson governanceBetsson Group, one of the most prominent Nordic sports betting and casino operators, have decided to lay-off 160 of it's employees, a projected 10% of its workforce. Although it is unlikely that the enterity of these employees will be merited to be given the sack, Betsson has deemed it necessary following a double digit earnings decline in Q3 2017. It is projected that a total of €5.6 million will be annually saved from this move, with the short term results being scheduled for the financial report of Q1 2018.

This move, however, has received some scrutiny from industry experts and former Betsson employees who claim that profits were shortened due to the unpredictability of certain markets. These mainly include the recenty "witch-hunt" in the Turkish market, tax increases in Spain and slower than expected results in Netplay's UK entry. Betsson had undergone significant changes in its workforce capability in 2017, when former CEO Ulrik Bengtsson and chief technology officer Stefan Nordin had left the brand. According to the current CEO Pontus Lindwall, these moves will offer improved results in the future:  “In cooperation with the operational management team, we have started to implement actions to improve operations. The restructured organisation will be more streamlined with clearer responsibilities, which I believe will improve its efficiency over time.”

10,000+ have already benefited from Bookmakers.bet

Register to our newsletter and be the first to get our exclusive bonuses and promotions. Fill in your name & email and stay tuned on the latest offers and the new bookmakers in your country.

I agree with the terms of use.

BOOK SPY

The Norwegian Ministry of Culture is considering unifying the country’s gambling laws under a new piece of legislation. This means that the Lott...

Read more »

The Cypriot government is determined to amend the nation’s sports betting law in order to benefit the development of all-levels of Cypriot football. M...

Read more »

Betzest has announced a brand new partnership with the paramount payment provider Youpaycoin for both its online sportsbook and casino platforms. Youp...

Read more »

Bethard Group Limited has announced that it will cease its operations in the UK gambling market as of July 6, 2020. The Malta-based operator informed ...

Read more »

GVC Holdings PLC, the owner of Bwin, has been readmitted to the FTSE 100 and 888 Holdings PLC, the owner of 888sport, has entered into the FTSE 250 In...

Read more »

Visa cards could soon be banned from online casinos that operate in the German market due to illegal gambling transactions that reportedly take place....

Read more »

The Swedish gambling regulator, Spelinspektionen, has submitted new regulatory changes for football betting to the National Board of Trade, aiming at ...

Read more »

Norsk Bransjeforening for Onlinespill (NBO), simply known as the Norwegian Industry Association for Online Gaming, has requested the national authorit...

Read more »

The Ukrainian government has recently shut down the domains of 59 international online gambling operators, despite the fact that the country’s efforts...

Read more »

Denmark’s gambling regulator, Spillemyndigheden, has blocked access to 16 websites that were offering their gambling services without a license. The r...

Read more »