Ulrik Bengtsson, chief executive of Betsson’s Malta subsidiary BML Group, has been promoted to CEO and president of the Swedish gaming operator.

Bengtsson will begin his new role on March 1st, replacing Pontus Lindwall who has held the CEO position on a temporary basis since the departure of Magnus Silfverberg in July last year.

Silfverberg's departure saw Pontus Lindwall step down as Betsson chairman to take on the president and CEO role on a temporary basis, with board member Lars Linder-Aronson taking over as chair. Both will now return to their previous roles.

Bengtsson has extensive experience of digital consumer services and has grown to be highly regarded within the company during four years as BML CEO. He will continue to serve as the subsidiary’s chief executive as well as taking charge of the wider Betsson group.

“It will be great to have Ulrik as CEO of the parent company as well as he knows the entire operations of the Betsson group,” Lindwall commented.

“Ulrik has played an important role in the development and the execution of the strategies which have resulted in significant value growth for the group.”

“I have been a part of an incredible journey over the past four years with Betsson but I think that we are still only at the start of a structural transformation of the entire industry, which is enabled by a continued transfer of the activity towards online,” Bengtsson said.

“In my role as CEO and President of Betsson, I will continue to ensure that in the first instance the group focuses on customers, and that innovation takes place where it is important for them.

“In this way Betsson will continue to gain market share,” he explained. “Our strategy to grow both organically and through acquisitions remains.”

Shares in Betsson AB (Co.Data) (OMX:BETS-B) were trading up 0.40 per cent to SEK126.30 per share in Stockholm early Tuesday.