Genera Networks to focus on profitability & growth under new CEO19th November 2013 10:34 am GMT
Swedish lottery supplier Genera Networks has appointed Maria Sandell as its new chief executive, as the company aims to widen its customer base and establish itself as a major player in the lottery market.
She replaces Jan Stocklassa in the role, who has moved to become chairman of the board and lead strategic development initiatives. Sandell will be responsible for leading Genera into a phase of “growth and expansion.”
Commenting on her appointment, Sandell said Genera’s games and subscription lotteries were “a unique combination of simplicity, high entertainment value, modern distribution solutions and attractive prizes.”
“We see a lot of interest from potential customers and I look forward to leading Genera with a continued focus on high profitability and growth,” she added.
Since the business was established in 2009, Genera has more than doubled revenues in each fiscal year, having been profitable since launch with turnover for 2012 reaching SEK27m.
Its largest customers are located in Scandinavia, with customers including Norwegian lottery operator Norsk Tipping and Swedish horse racing monopoly ATG.
Genera said that "another state lottery" had signed a deal for the company's main product, the geolottery Nabor.
Outgoing CEO Stocklassa said Genera was “the only supplier [to offer its] niche, innovative lottery formats.”
”We will continue development of our patented games together with our customers with the aim to reach the widest possible market,” he added.