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SWEDISH GOVERNMENT CASINOS HAVE A NEW BOSS
(337) (23-August-2006)
Claes Tellman to head Svenska Spel casino subsidiary
The Swedish government owned Svenska Spel has appointed Claes Tellman to head its casino subsidiary Casino Cosmopol . Tellman was formerly Vice-President, Communications, at Svenska Spel.
Casino Cosmopol has established four international casinos in Sweden over the last five years. The first was introduced in June 2001 in the city of Sundsvall. The casino in Malmö was introduced in December the same year, followed by the Göteborg casino in August 2002 and the Stockholm casino in March 2003.
Following a recent report to the Swedish government, which confirmed that the four casinos have caused very little harm to Swedish society, Svenska Spel was given state permission to open two more casinos if it feels this is justified.
For the first six months of 2006, the four casinos operated by the Svenska Spel subsidiary Casino Cosmopol generated revenue of SEK 474 million ($66 million), up 2.5 percent from the same period last year.
Svenska Spel is the largest gaming company in Sweden with an annual turnover for 2005 of SEK 19.6 billion ($2.75 billion). Profits for 2005 amounted to SEK 4.5 billion, of which around SEK 1.1 billion goes to non-governmental and sports organisations for children and youth. Svenska Spel is wholly owned by the Swedish State.
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