In the latest in our series of articles ahead of Swedish re-regulation, we look at Betsson, which is attempting to come back from an uncharacteristically turbulent period before the regulated market opens in January 2019.
The news that Betsson was preparing to make around 9 per cent of its workforce redundant was the confirmation that one of the industry’s most respected operators was going through a rocky patch. One hundred and sixty people will lose their jobs. It is a horrible period for any chief executive to go through. Not least one who loves, lives and breathes the business as current incumbent Pontus Lindwall does.
The problem at Betsson, however, is probably that not enough people love, live and breathe the business. It has become bloated with bodies (1,888 employees) but onlookers believe that not enough of them have the entrepreneurial zeal needed to thrive in a highly competitive market that is overflowing with entrepreneurs.
“You need the entrepreneurs to attract talented people with the drive to make the company great. It is all about people. One of the strongest advantages you can have is an extreme company culture,” says Redeye analyst Kristoffer Lindström.
Many of the entrepreneurs thriving at competitors rose from or were acquired by Betsson...