Novomatic's Greentube has confirmed the sale of its game development studio StakeLogic, with Stephan van den Oetelaar appointed as its new chief executive.

Van den Oetelaar serves as managing director of Van Den Oetalaar Investments and is also the founder of the Borus childcare centres in the Netherlands.

Gaming Intelligence reported Wednesday that Van Den Oetalaar had been named chief executive of the Greentube owned business. However, Greentube subsequently confirmed that the appointment is in relation to the sale of StakeLogic to a financial investor for an undisclosed sum.

"It is an honour for me to be heading Stakelogic, growing its business in the dynamic world of online gaming," van den Oetelaar said of his appointment.

"In the coming years we will continue to provide top-class casino games, as a B2B provider, to our clients. As before, our games will range from global to hyper local. For the years ahead, we will be fully focussed on growing the business of our clients. We will focus on what we do best: making games that people want to play."

StakeLogic was established in 2015 by Greentube, the iGaming division of Austrian gaming giant Novomatic.