The fast-growing licensed and regulated business-to-business provider of sportsbook, fantasy betting, daily fantasy sports and other sports-oriented products, Scout Gaming Group, announced a senior-level appointment Wednesday. The company confirmed it selected Niklas Jonsson for the position of chief executive officer (CEO) permanently.
Jonsson initially joined the company back in December 2021. Back then, he was appointed by Scout to the role of chief financial officer (CFO). Then, last summer, the company selected Jonsson for the role of interim CEO. Since that appointment, he held the dual role of CFO and CEO.
Now, according to Scout, Jonsson assumed the role of CEO permanently, while at the same time, the company selected another industry expert for the role of CFO. The appointment of Jonsson as permanent CEO coincided with the appointment of Andreas Olsen to the role of Group CFO. Previously, Olsen held the role of head of finance, but Scout confirmed that his appointment as Group CFO is effective immediately.
It was last summer when Olsen first joined Scout Gaming Group. Overall, he brings years of extensive experience in auditing and accounting, which made him an invaluable member of the company’s finance team. Before joining Scout, Olsen was a part of different private companies. He is currently a certified public auditor and holds two degrees from the University of Agder in Norway, one in Financial Economics and a Master of Science in Accounting and Auditing.
The Company Minimized Losses in 2022
The latest appointments come after recently, Scout made another important announcement. Late last month, the company published its 2022 financial report, outlining it was able to significantly decrease its annual losses. At the time, Scout explained that this was the result of its cost-effective strategy.
In 2021, the company’s losses were $7.87 million (converted from Swedish Krona). However, judging by the 2022 report, those losses decreased by 27% year-over-year to $5.76 million.
Besides reducing losses, Scout confirmed its revenue results as well. Despite the efforts to reduce losses, the company’s total revenues decreased by 20% to $2.46 million. It is likely that with the recent appointments, Scout will continue to focus on operating efficiencies, reducing further losses and trying to increase revenue throughout 2023.