Norwegian state-owned gambling operator Norsk Tipping announces a significant personnel change, appointing Trond Bentestuen as the new CEO, succeeding Vegar Strand who has been acting temporarily since summer. This appointment comes at a time when the company is deeply embroiled in operational turmoil and regulatory penalties, urgently needing professional leadership to stabilize the situation. Industry dynamics can be continuously monitored through the PASA official website.
New CEO with Rich Experience, High Expectations from the Board
Trond Bentestuen is no newcomer to the industry, having solid management experience. Previously, he served as CEO of the building materials company Løvenskiold Handel for three years, also headed the Norwegian supermarket chain REMA 1000 Norge, and spent a decade at Nordic financial giant DNB, holding positions as Executive Vice President in personal banking, wealth management, and insurance.
Board Chair Sylvia Brustad is confident in his extensive management experience and personal qualities, believing he can drive the company towards achieving "a society free of gambling problems, world-class digital customer experience, and strong transformative power." Bentestuen has also expressed on LinkedIn his anticipation to take over this unique company that combines social mission with operational efficiency demands. However, his exact start date has yet to be determined.
Company in Troubled Times, Frequent Compliance Issues
Indeed, Norsk Tipping has had a rough year, with one problem after another. In February, the Norwegian Lottery Authority discovered that the company's self-exclusion system would be unusable for five months in 2024, resulting in a fine of 36 million Norwegian kroner (approximately 2.6 million pounds).
In May, they were investigated for regulatory issues after receiving reports of underage individuals transferring money to the platform, and that was just the beginning. In June, former CEO Tonje Sagstuen resigned due to errors in the Eurojackpot draw, misleading thousands of users into believing they had won big prizes, which was officially attributed to human error. In September, the company faced another fine of 46 million Norwegian kroner due to technical failures in Eurojackpot and Lotto, causing abnormal winning probabilities for some cooperative agency players. Additionally, in 2024, there was an erroneous payment of 25 million Norwegian kroner in prizes, resulting in a fine of 2.5 million Norwegian kroner, with more penalties likely to follow.
Implementation of Corrective Measures, New Leader Charged with Restoring Trust
Facing numerous crises, interim CEO Vegar Strand has already initiated corrective measures. By early December, the company had implemented 22 out of 25 recommendations from the KPMG and PwC audit reports. The audit reports pointed out that the company had previously "sacrificed quality and control for innovation," with deficiencies in technology management and a lack of understanding of technological risks and complexity.
Currently, the company has thoroughly reviewed its organizational structure, optimized the developer and tester systems, and established a new supplier management system. For Bentestuen, taking office means not only advancing reforms but also restoring public trust in this monopoly operator, finding a balance between responsible gambling and commercial operations—a significant challenge indeed.
————
This article is from "PASA-Global iGaming Leaders," a gambling industry news channel:https://t.me/pasa_news
Original in-depth gambling channel:https://t.me/gamblingdeep
Free data reports: @pasa_research
PASA Matrix: @pasa002_bot
PASA official website: https://www.pasa.news
