Enlabs reshuffles senior management with new COO and CFO

Baltic-facing gaming operator Enlabs has made a number of changes to its senior management, including appointing George Ustinov as its new chief operating officer and Adam Jonsson as chief financial officer.

Ustinov will move into his new role having previously served as CFO of Enlabs. He will oversee operational work in Enlab’s main markets, as well as head up its expansion efforts in new regions.

Jonsson had been controller and head of investor relations at the operator since 2018 and will move into his new position having worked alongside predecesor Ustinov for the past year.

“George has done a very good job as CFO and has gradually become more involved in the operational work,” Enlabs president and chief executive Robert Andersson said. “As we now prepare for the next phase of growth, I want George to be able to dedicate full time to developing the operational business as COO and deputy CEO.

“Adam has already shown great competence in managing responsibility for many of the financial parts and, for the past year, has been part of the management team as responsible for investor matters, which is a natural step for him to assume the CFO role.”

The appointments come after Enlabs last month posted record revenue for the third consecutive quarter, breaking the €10m (£8.5m/$11.1m) barrier for the first time. Revenue was up 32% year-on-year in the third quarter.

Also last month, Enlabs announced that it had completed its acquisition of KDB Games, a land-based gaming business in Belarus, as part of its preparations to apply for an online gambling licence in the country. The deal, first announced in August, is worth around €127,000, with Enlabs to purchase all of the shares in KDB.