Zoltán Sólyom has been appointed as the CEO of the state-owned gambling company Szerencsejáték Zrt.
Sólyom started his career in 1990 within the insurance sector. In 1997, he founded Palladium Consulting, a corporate insurance consulting and brokerage company.
Hungarian Finance Minister András Kármán, who announced the appointment on Facebook, pointed to Palladium Consulting as an example of Sólyom's management experience.
In his post, Kármán wrote: "One of the country's largest state-owned companies has finally been put in good hands - we do not gamble with the money of the Hungarian people! Over the past few years, one of Hungary's largest companies and exclusive gambling organisers, Szerencsejáték Zrt, has become the payment centre of NER. Billions of taxpayers' money was distributed through the company in a non-transparent manner, without justification and on political grounds."
Since August, Sólyom has been a member of two state-run companies' supervisory boards. Because of his experience, the Minister believes he will "be able to restore the integrity and honour of one of the largest companies in the Hungarian state."
Following the elections, the new Hungarian Government has signalled potential changes to the country's gambling sector. The industry has come under increased scrutiny due to recent regulatory interventions and public debate surrounding lottery operations and casino ownership structures.
In September, the Hungarian Government was considering abolishing the Supervisory Authority for Regulated Activities (SZTFH) and transferring its responsibilities to government-controlled entities.
The Government has ordered an assessment of the SZTFH, which regulates and supervises the gambling market. In response, the regulator pointed to EU regulations that require regulatory authorities to function independently of the Government in several areas.
Following the Government's review and restructuring, President of the SZTFH László Nagy resigned, finding that the changes differ substantially from the organisation he was appointed to lead.
Szerencsejáték Zrt was also criticised during parliamentary hearings for allegedly using revenues for “propaganda purposes”
