New BEt 24 Boss

Maria Karlsson has been appointed Chief Executive Officer at online gambling operator Bet24 after a fast rise from management trainee in 2004 at owners Modern Times Group AB. She replaces Lotta Lindquist-Brosjö who is leaving the company to pursue other business interests after two years as CEO.

Karlsson is well versed in her post, having been appointed deputy CEO in January this (2008) year. She has worked within Bet24 in various positions, including Chief Financial Officer in 2006.

During MTG's ownership Bet24 has undergone rapid development, becoming profitable in 2007 with sales of SEK 386 million, gross profit of SEK 122 million and operating profit of SEK 10 million. During 2008 the business has reported healthy sales growth of 29 percent for the first nine months ending 30 September, together with a similar impressive rise in gross profit.

Announcing the appointment, Jørgen Madsen, Chairman of the Board of Bet24, said: "Maria has an extensive knowledge of the business as she has been both CFO and Deputy CEO. In her roles she has also been very much involved in the transformation of Bet24 during the past years and she will be able to take us to the next level.

Madsen paid tribute to Karlsson's predecessor, saying: "A lot of changes have happened within Bet24 since Lotta joined; including both re-focusing and re-organisation. With Lotta as CEO Bet24 has become a profitable growth company. With the turn-around completed, we have now decided to go our separate ways. I thank her for her strong commitment and hard work."

Bet24 was founded in 2001 and was acquired by MTB in 2005. The company has active clients in more than 70 countries and offers gaming entertainment including exciting odds on international as well as local sports events, Casino, Poker, Bingo and Lotto betting in 15 different languages.

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