Siemens beats forecasts

first_img Show Comments ▼ whatsapp Siemens, Europe’s biggest engineering conglomerate, beat forecasts for its first-quarter profit helped by robust demand in fast-growing emerging economies.Net profit from continuing operations – which exclude units planned to be spun off – rose 17 per cent to 1.79bn euros (£1.5bn) in the quarter, beating the average forecast of 1.47bn euros in a Reuters poll.Like most peers in Germany’s capital goods industry, Siemens relies heavily on exports of manufactured goods to China, Brazil, India and Russia to power growth, profiting from aggressive infrastructure investment in those countries.Siemens and steelmaker ThyssenKrupp have also benefited from emerging economies’ appetite for German luxury cars, high-end engineering machinery and industrial equipment.Latest data showed German manufacturing orders grew at their fastest rate in 10 months in November, rising far more than economists expected mainly due to strong demand from outside the euro zone for durable goods.“Orders and revenue grew in all regions, particularly in emerging markets,” Chief Executive Peter Loescher said on Tuesday, referring to the company’s first quarter to end-December.Siemens said emerging markets grew significantly faster than orders overall, at 31 percent, and accounted for around a third of total orders for the quarter.It said quarterly order intake – an indicator of future sales – rose 160 per cent from India and 49 per cent from China.Overall new orders rose, partly thanks to supply gas turbines for GS Electric power plant in South Korea, a rolling mill for China’s steelmaker Xiangtan Iron, a wellhead compression solution for Russia’s Technogarant, and transmission technology for power grids in Brazil and Paraguay.China, where Siemens generated nearly 8 percent of group revenues last year, in 2009 vaulted past the United States into pole position as buyer of German engineering products.Siemens, whose products range from steam turbines and fast trains to hearing aids and light bulbs, made around 30 percent of sales in emerging markets last year and has been increasingly making lower-priced products to suit demand.Its bread and butter Industry Sector, which makes equipment that large companies use to run factories and automation gear to help industrial plants run smoothly, posted an increase of 22 per cent in quarterly profit.Siemens reiterated its forecast of a 25 per cent to 35 per cent growth in profit from continuing operations for fiscal year to September 30, 2011, “clear growth” in order intake and “moderate” organic revenue growth. Siemens beats forecasts More From Our Partners Florida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comKiller drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org Sharecenter_img John Dunne by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStorySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldSenior Living | Search AdsNew Senior Apartments Coming to Scottsdale (Take A Look at The Prices)Senior Living | Search Ads whatsapp Tags: NULL Tuesday 25 January 2011 3:11 amlast_img read more

Nomura hit as US expansion limits profits

first_img Nomura hit as US expansion limits profits NOMURA plans to expand into China in the next 18 months, according to the chief operating officer of its wholesale business Jesse Bhattal, who spoke as the firm’s fourth quarter results missed forecasts.“It is one of the most important geographies. We would like to over the next 12 to 18 months have a local market presence in China,” Bhattal said.But the bank will need to convince investors that expansion will provide the jumpstart needed after yesterday’s results.The bank reported a net profit for the fourth quarter of 2010 of ¥13.39bn (£101.3m) – well short of consensus forecasts of ¥17.4bn. In line with US convention, it regards the fourth calendar quarter as its third financial quarter, and will report “full-year” results in March. The bank has struggled since buying up the non-US assets of Lehman Brothers. During the past 18 months it has added more than 1,000 staff in the US in a bid to break into the top tier of investment banking. But it has yet to reap the rewards of its investment. Its wholesale business, which includes investment banking, was particularly badly hit: the division recorded a ¥22bn loss over the nine months to December. Nine-month fees from investment banking fell 11.8 per cent to ¥79.2bn. The disappointing profits were in part on the back of costs rising in relation to revenues: nine-month non-interest expenses fell 2.6 per cent to ¥775.5bn, whereas nine-month revenues fell 4.8 per cent. Overall, its nine-month pre-tax profit was down 27.2 per cent to ¥55.8bn. The bank’s asset management division, however, helped to prop up its earnings, bringing in ¥17.1bn for the nine months to December, a rise of 25 per cent on the previous nine months. whatsapp whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeBlood Pressure Solution4 Worst Blood Pressure MedsBlood Pressure Solutionautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Herald More From Our Partners Fans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgKansas coach fired for using N-word toward Black playerthegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFort Bragg soldier accused of killing another servicewoman over exthegrio.comMark Eaton, former NBA All-Star, dead at 64nypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comColin Kaepernick to publish book on abolishing the policethegrio.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.com center_img Share KCS-content Show Comments ▼ Wednesday 2 February 2011 7:43 pm Tags: NULLlast_img read more

Insurer JLT to shun City skyscrapers

first_img Insurer JLT to shun City skyscrapers Share whatsapp INSURANCE broker Jardine Lloyd Thompson is close to signing for office space in a new development at 80 Fenchurch Street, industry sources have told City A.M.The insurance firm, which is currently based at 6 Crutched Friars, had been linked with flagship City towers including the Cheesegrater, but is now understood to have ruled out taking space in a skyscraper. Twinlite, an Irish property developer, hopes to build a nine-storey block designed by architect Foster + Partners on the 80 Fenchurch Street site, which is due for completion in 2013. Shieldpoint 78, an Isle of Man-registered firm named as the developer on planning applications, could start work as soon as this month after winning permission from the City of London in late January to demolish the empty buildings at 78 – 87 Fenchurch Street. However, work could be delayed by New College, Oxford, which owns the freehold land underneath the buildings and has so far withheld its permission for work to begin. A spokesperson for JLT declined to comment on 80 Fenchurch Street, but told City A.M.: “We have been looking at various options and aren’t in any agreement at a contractual level.”Shieldpoint 78 and Twinlite could not be reached for comment. The developers of several City towers including the Cheesegrater, Walkie Talkie and the Shard are currently hunting for tenants to sign for office space in their developments ahead of completion in 2014, while the investors financing the Pinnacle have asked for a large pre-let before they grant further funding. London has seen a resurgence in large office builds over the last 12 months, with developers keen to cash in on an expected space squeeze after 2012. Some have restarted projects that were shelved during the recession. KCS-content Tags: NULL Sunday 13 February 2011 11:29 pm whatsapp Show Comments ▼ Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’Sportsnautlast_img read more

US home prices fall for sixth straight month

first_img Share Tuesday 22 February 2011 10:11 am Show Comments ▼ whatsapp US single-family home prices fell for the sixth month in a row in December, bringing them closer to the low seen in 2009, a closely watched survey has found.The S&P/Case Shiller composite index of 20 metropolitan areas declined 0.4 per cent in December from November on a seasonally adjusted basis. The figure was in line with analysts’ expectations.For the year 2010, prices fell 2.4 per cent, slightly more than the 2.3 per cent analysts had forecast.“Despite improvements in the overall economy, housing continues to drift lower and weaker,” David Blitzer, chairman of the index committee at S&P, said in a statement.While the composite held above its 2009 low, 11 cities hit their lowest levels since home prices peaked in 2006 and 2007, the report showed.Unadjusted for seasonal impact, home prices fell 1 percent for the month, leaving them just 2.3 per cent above their April 2009 troughs, S&P said.Eighteen of the 20 cities showed annual price declines in December and 19 out of 20 saw monthly price drops.During the fourth quarter, home prices declined 3.9 per cent from the previous quarter and were down 4.1 per cent compared to the fourth quarter 2009. whatsapp US home prices fall for sixth straight month alison.lock Tags: NULL Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap last_img read more

CBI: Fortunes split for UK service sector

first_img CBI: Fortunes split for UK service sector whatsapp Tags: NULL KCS-content whatsappcenter_img Show Comments ▼ PROFESSIONAL services firms have bounced back to record significant growth for the first time in nearly three years, the Confederation for British Industry (CBI) is expected to announce today.Business volumes for the last three months reached their highest index score – a positive balance of eight per cent – since May 2008.Optimism in the business climate shot up to a positive balance for professional services firms, with 10 per cent more respondents optimistic than pessimistic, the CBI’s latest service sector survey will reveal.The CBI’s previous two surveys (last November and August) reported negative balances (-4 per cent, and -17 per cent), with more professional service respondents pessimistic about their business situation.Professional service companies include accountancy, legal and marketing firms.However, the survey reported a dip in prospects for consumer services companies, such as hotels, bars and restaurants, travel and leisure.In this sub-sector, the value and volume of business continued to fall, marking a full year of decline. A balance of -11 reported a fall in their volume of business in the three months leading up to the survey, which was conducted between 31 January and 16 February.The period covers the severe winter freeze, which saw some shops and consumer services take a knock to their revenue.The inclement weather struck half a per cent off the UK’s GDP, according to the Office for National Statistics.The service sector as a whole accounts for around three quarters of British GDP.However, negative feeling in the consumer services sector has lingered beyond the freezing weather, with optimism recording a negative score of -11 per cent, and a small balance (-1 per cent) of respondents expected business to fall over the coming three months.“On the one hand, consumer spending is constrained, held back by rising prices and squeezed real incomes,” said the CBI’s chief economist Ian McCafferty.“On the other, there are signs that spending by businesses is picking up, helping to re-balance the economy away from consumer-driven growth.”A positive balance of 24 per cent of professional services firms expect to expand over the next year, compared to a negative balance (-17 per cent) in the consumer services sub-sector. Wednesday 23 February 2011 8:40 pm Sharelast_img read more

Bank’s Dale: inflation could stick

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBePeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayDrivepedia20 Of The Most Underrated Vintage CarsDrivepediamoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Herald Bank’s Dale: inflation could stick whatsapp KCS-content Share Thursday 24 March 2011 9:18 pm Bank of England rate setter Spencer Dale yesterday defended his vote for higher interest rates. Inflation pressures could prove to be more stubborn than expected, Dale said. center_img whatsapp Tags: NULL Show Comments ▼ Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’Small Axe’: Behind the Music Everyone Grooved On in Steve McQueen’sThe Wraplast_img read more

Playtech’s Quickspin moves into Italy with PokerStars deal

first_img Subscribe to the iGaming newsletter Tech & innovation Playtech’s Quickspin moves into Italy with PokerStars deal Quickspin is to launch its gaming content in Italy for the first time after entering into a new partnership with The Stars Group’s flagship PokerStars brand. The Playtech-owned games studio will initially roll out a selection of slot titles such as Sakura Fortune, Dragon Shine and Phoenix Sun, with more content to follow in the coming months. “We are delighted to have secured a deal with Pokerstars. Going live with them is exciting for us and continues our exciting plans for expansion,” Quickspin chief executive Daniel Lindberg said.“We live and breathe slots and are passionate about what we do,” he explained. “Our mission is to create ones that players love, and we’re looking forward to taking the country by storm with some of our most exciting games.”PokerStars joins the likes of LeoVegas, Betsson, Mr Green, JackpotJoy’s Vera&John, Kindred Group and Danske Spill as operators that have content deals in place with Quickspin. The studio was founded in 2011, before being acquired by acquired by iGaming solutions giant Playtech in 2016. PokerStars was awarded an online casino licence in Italy earlier this year. It was one of around 80 operators that submitted applications to the Agenzia delle Dogane e dei Monopoli after the Italian regulator opened a new licensing window for the country’s iGaming market in January this year. Last month, The Stars Group reported a 74% year-on-year increase in revenue to $572m (£449.5m/€504.2m) for the third quarter of 2018, including 12% growth in revenue from Italy to €37.8m. Email Address Topics: Tech & innovation AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter 3rd December 2018 | By contenteditor Launch comes after PokerStars was awarded an Italian online casino licence earlier this year Tags: Online Gambling Regions: Europe Southern Europe Italylast_img read more

Japan aims to establish casino regulator by January 2020

first_img Topics: Casino & games Legal & compliance Subscribe to the iGaming newsletter Regions: Asia Japan AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Japan aims to establish casino regulator by January 2020 The Japanese government has revealed plans to formally establish a regulatory body to oversee the country’s land-based casino industry by January next year, around six months after it was originally set to be formed.A five-person board to lead the Casino Management Committee is to be appointed by 7 January 2020, working as an independent arm of the country’s Cabinet Office. It will be led by a five-person board, and ultimately employ 100 people — up from the 95 originally planned — with the leadership to be confirmed by the Japanese parliament (Diet).The Committee will incorporate financial supervision, regulatory supervision, planning, research and general affairs divisions. It will be granted responsibility for handling the licence applications for the three integrated resorts, then for enforcing regulations and monitoring the market, including anti-money laundering duties.Under the regulations approved in March then published as part of a consultation in September, integrated resort operators will have to require a casino business licence to construct their gambling hall, then a casino facility service licence to operate this venue.The gambling facilities must cover no more than 3% of the venue’s overall floor space.Following that consultation, which ended on 3 October, the government is working on developing the final regulatory framework, which will include elements such as the criteria for selecting the sites for the resorts. A number of sites, such as Tokyo, Yokohama and Osaka, are all likely to be in contention to host a facility.The Casino Management Committee had originally been expected to be announced in July, only for its establishment to be delayed, with the Japanese government yet to explain why it was pushed back.Following its formation, the final set of regulations are likely to be published, with some media sources reporting that this could also take place in January 2020.With the integrated resorts sites yet to be selected and the process to pick operators to run each site (which are expected to cost at least $10bn to build) to follow, it is unlikely that any of the facilities will open until 2025 at the earliest.center_img Casino & games 22nd October 2019 | By contenteditor Email Address The Japanese government has revealed plans to formally establish a regulatory body to oversee the country’s land-based casino industry by January next year, around six months after it was originally set to be formed.last_img read more

Bidders prepare for National Lottery tender battle

first_img Tags: Charitable Gaming Mobile Online Gambling CSR 17th December 2019 | By contenteditor Bidders prepare for National Lottery tender battle A number of high-profile gaming businesses look set to compete in the tender process, which could see the contract to operate the UK National Lottery wrestled away from long-term incumbent Camelot for the first time.While Camelot has operated the lottery since its inception in 1994, winning new contracts in 2001 and 2007, it looks set to face significant competition in the 2020 tender process.Gambling Commission chief executive Neil McArthur has previously suggested there was “significant untapped potential” in the franchise, and that he hoped to see technology giants compete for the contract.Fighting for the tender will be the likes of Health Lottery operator Northern & Shell. It told iGamingBusiness.com that after 25 years under Camelot’s control, it was “time for a change” to the lottery’s management when the current contract expires.Northern & Shell, which previously owned a number of national newspapers including the Daily Express and Daily Star, has assembled a team to manage its bid, and has already received the draft invitation to apply (ITA) from the tender managers.It pointed out that having run the Health Lottery since 2011, it was the only other provider to have a national retail presence in the UK, which it said would give it an advantage over challengers.It expects that bids will be filed in March 2020, with the final decision of the tender panel being announced towards the end of the year.Czech gaming conglomerate Sazka Group, meanwhile, has long been credited with an interest in running the National Lottery. The business, which also runs the Sazka brand in the Czech Republic and holds a controlling stake in Greece’s OPAP, was previously expected to float on the London Stock Exchange ahead of challenging in the tender.However, these plans were ultimately shelved due to market volatility. Sazka has since competed for tenders in Italy’s SuperEnalotto and Turkey’s Milli Piyango. However, in each case it was unsuccessful, with Sisal prevailing in both cases, in partnership with Demirören Holding in the Turkish process.Sazka would not confirm nor deny that it will participate in the National Lottery tender.“As one of the Europe’s largest and most successful lottery companies, operating national lotteries in Greece, Italy, Austria and the Czech Republic, Sazka Group is aware of the upcoming license renewal process for the UK National Lottery,” a spokesperson for the business told iGB.“Once the UK Gambling Commission has announced the terms and conditions for bids we will evaluate them to determine the Sazka Group’s response.” Other potential bidders include Sir Richard Bransons’s Virgin Group, which media reports suggest has already met with the tender managers.Overseeing the tender is John Tanner, a manager brought in from Her Majesty’s Revenue and Customs by the GB Gambling Commission to lead the process. He is being supported by Andrew Wilson, as commercial director, with investment bank Rothschild & Co as lead financial advisor.For the first six months of Camelot’s 2019-20 financial year, the operator reported a 13.5% year-on-year increase in sales to £3.92bn. This was aided by a 40.0% jump in digital sales for the six months to 28 September 2019, which climbed to £1.16bn. Topics: Lottery Social responsibility Strategy CSR Subscribe to the iGaming newsletter A number of high-profile gaming businesses look set to compete in the tender process, which could see the contract to operate the UK National Lottery wrestled away from long-term incumbent Camelot for the first time. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Regions: UK & Ireland Email Addresslast_img read more

Enlabs announces Ustinov as new chief executive

first_img Baltic-facing igaming operator Enlabs has appointed George Ustinov, formerly its chief operating officer and chief financial officer, as its new chief executive. Regions: Europe Topics: People Strategy People Tags: Online Gambling Email Address AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Enlabs announces Ustinov as new chief executive 11th February 2020 | By contenteditor Subscribe to the iGaming newsletter Baltic-facing igaming operator Enlabs has appointed George Ustinov, formerly its chief operating officer and chief financial officer, as its new chief executive.Ustinov replaces former Catena Media chief Robert Andersson, who has stepped down from his operational assignments with the operator after two years as its president and CEO.A member of the senior management team at Enlabs since 2017, Ustinov will take on his role new having only been appointed as COO in December last year, as part of a reshuffle that saw Adam Jonsson succeed Ustinov as CFO.“I am honoured to have the opportunity to take over leadership for Enlabs, which is a fantastic company with very great opportunities,” Ustinov said. “We operate in an industry that is rapidly changing and our mission is to fulfil our customers’ needs and improve the customer experience through digital solutions.”Outgoing CEO Andersson added: “Being able to hand over the leadership to George after these two years feels extraordinary good. We have worked very closely with each other during this time and with his skills and drive, George is the obvious choice as new president and CEO.”Enlabs’ chairman Niklas Braathen also said: “George, has during his time in the Group, demonstrated the ability to quickly make and implement decisions, has solid knowledge of the Eastern European gaming markets, and possesses the leadership skills that Enlabs continues to develop. “Together with Enlabs’ management team, he will drive Enlabs’ strategy forward, and be able to deliver long-term value for all our shareholders.”The appointment comes after Enlabs last month announced another record-breaking quarterly performance, with Q4 revenue rising 25.3% year-on-year to €11.2m (£9.4m/$12.2m).This contributed to total revenue for 2019 increasing by 29.4% to €39.6m, with growth for the year largely driven by Enlab’s B2C igaming operations, which accounted for €36.4m of the full-year total, up 36.3% from 2018.last_img read more