Raketech proposes Ulrik Bengtsson as new chairman

Ulrik Bengtsson could become new chairman of Raketech

After Christian Lundberg refused to be re-elected, Raketech has offered Ulrik Bengtsson of William Hill as its new chairman. Bengtsson joined William Hill in April 2018 as chief digital officer and became chief executive in September 2019.

Prior to that, he was president, chairman and CEO of Betsson Group, a Swedish gambling company. Bengtsson was CEO of Modern Times Group, a digital entertainment company headquartered in Stockholm, Sweden.

If Bengtsson becomes chairman, approved by Raketech's committee, he will be formally appointed on 17 May during the provider's annual general meeting.

Raketech nominations committee chairman Tobias Persson Rosenqvist said that with his in-depth knowledge, personal experience and connections in the iGaming industry, Bengtsson is ideally placed to accelerate the provider's growth.

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Raketech has excellent management and a clear strategy

Rosenqvist also thanked Lundberg for his hard work from 2017 to the present and for "creating a balanced combination of entrepreneurial creativity and a well-functioning management and structure".

Lundberg said that when he was appointed he was tasked with creating structure and ensuring Raketech's ability to operate in the specified environment at Stockholm Nasdaq First North. He said he was proud to see Raketech stable and listed with good management and a clear strategy. Lundberg said: "So my mission is accomplished and it is time for me to hand over to someone else who can take Raketech to the next level."

Other candidates proposed by the Raketech nomination committee include the recently appointed Magnus Gottos, re-elected Fredrik Svederman, Annika Bilberg, Johan Svensson and Erik Skarp. The full proposal will be presented at next month's general meeting.

Raketech's strategic acquisitions in 2020 have accelerated its growth. This year, Raketech has plans to enter the Danish market and gain a leading position there. Recall that Bedste Spil Uden Om Rofus is currently gaining popularity in Denmark and in particular their popular section where they present reviews of foreign betting sites (udenlandske betting sider) such as 20 Bet and Slottica.

Raketech made several strategic moves in 2020 and acquired the US-focused subsidiary American Gambler and Canada, as well as effective marketing company Lead Republik for Germany.

Through the deal with American Gambler, Raketech became an owner of local state assets and further accelerated its growth. Thanks to this acquisition, the provider generated 5% to 10% revenue from the US for 2020.

The subsidiary acquired data-driven network Lead Republik for €1.4 million. Despite being registered in Malta, Lead Republik generated revenue mainly from Canada, Germany and New Zealand.

With these strategic acquisitions, Raketech recorded revenue growth of 23% in 2020.