Enlabs announces Ustinov as new chief executive

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.