Former entrepreneurship minister stepping down as gambling firm CEO

Urve Palo
Urve Palo Source: Siim Lõvi /ERR

Former entrepreneurship minister Urve Palo says she is stepping down as chief executive officer of gambling company Novoloto in December, having already announced her intention to leave the company earlier this year.

Palo said that: "I agreed with the owner of the company that I would continue with them for a while and start, or finish off, various activities."

"I have set myself the goal that everything agreed upon to be carried out this year will get done, including the budget strategy for the next five years, which has been completed and approved by the group as of now," Palo, who was entrepreneurship minister in three stints between 2014 and 2018, continued.

Novoloto OÜ is a subsidiary of international gambling firm Novomatic AG, a German company which operates both bricks-and-mortar casinos and online equivalents, as well as scratchcards. Novoloto OÜ operates the Fenix chain of casinos.

Palo will step down on December 15 and will pursue an ambition of providing services as a management coach.

"I have received many interesting offers of cooperation in the field of coaching and I believe that when the time is right, I will put myself to the test as such," she said, adding she has no intention of returning to politics.

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Editor: Andrew Whyte

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