Svenska Spel CEO Patrik Hofbauer Transitions to Telia Company

Patrik Hofbauer, the CEO of Svenska Spel, is set to leave the company after nearly five years at the helm to take on the role of president and CEO at Swedish telecommunications giant, Telia Company. Hofbauer’s departure from Svenska Spel is scheduled for January 31, 2023, and he will officially assume his new position at Telia Company the very next day.

Svenska Spel, a prominent name in the gaming industry, has already initiated the process of recruiting a successor to fill Hofbauer’s shoes. As the company bids farewell to Hofbauer, they seek a leader who can carry the torch forward and continue the legacy of the organization.

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Hofbauer Reflects on His Journey

Patrik Hofbauer, reflecting on his time at Svenska Spel, remarked, “In recent years, I have had the privilege of leading Svenska Spel. It has been a fantastic journey together with our customers, partners and, not least, employees. 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.”

Erik Strand, Chairman of Svenska Spel, commended Hofbauer for his remarkable leadership during his tenure. “Through his solid knowledge, great commitment, and brilliant leadership qualities, Patrik Hofbauer has successfully led Svenska Spel for some time through major changes for the company. 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. On behalf of the board, I’d like to extend a warm and big thank you for his valuable contribution,” stated Strand.

Patrik Hofbauer is returning to the telecoms industry with his move to Telia Company. He spent four and a half years as the CEO of the Norwegian telecom corporation Telenor before joining Svenska Spel. His lengthy career has also seen him serve as the senior vice president and CEO of Telenor Broadcast and the CEO of Clear Channel’s Swedish division. His extensive career includes executive positions at organizations like Canal Digital Sverige and NEC Scandinavia.

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Casino & Sports

Svenska Spel is almost ready to announce its Q3 results when Hofbauer decides to leave the organization. During his leadership, Svenska Spel shifted a large portion of its emphasis to online operations, significantly altering its financial performance.

Svenska Spel announced that net gaming revenue increased year over year in the first half of 2023 and reached SEK1.97 billion. Despite difficulties caused by online competition in the casino and slot machine sectors, internet revenue saw a significant 9% gain from the prior year and now makes up the majority (52%) of Svenska Spel’s overall income. A strategy reorientation at Svenska Spel under Hofbauer’s leadership welcomed digital change and sustainable growth.

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