Betsson has withdrawn its application for a license in the Netherlands as the licensing process proved to be lengthy and costly.
Betsson used to operate in the Netherlands prior to the market’s regulation. Eventually, the country regulated online gambling, forcing Betsson to pull out from the market. Since the company had actively targeted Dutch customers prior to the regulation, it was subjected to a cooling-off period.
The operator planned to return and undertook the actions needed to secure a license. However, in its interim Q2 report, the company just announced that it has withdrawn its license. Betsson attributed the withdrawal to delays and resource allocation considerations.
The decision was based on significant delays in the licensing process and resource allocation considerations given the attractive current project pipeline for Betsson in other markets. The Group still maintains the possibility of reapplying for a license in the future.
Official Betsson statement
The Operator Is Not Ready to Give Up
Betsson had hoped that its decision to willingly pull out from the Netherlands would convince the Kansspelautoriteit to provide it with a license.
In a further show of its goodwill and desire to play by the rules, the company also closed its former Dutch brand Casino Winter in January this year.
Unfortunately for the operator, the process wasn’t as easy as it had hoped. However, Betsson still remains open to the idea of reapplying for a license in the future.
In an earlier conference call, Martin Öhman, Betsson’s chief financial officer, addressed the decision, promising that the company has not “shut the door” on the Netherlands.
Öhman explained that Betsson wanted to redirect the resources the application was taking elsewhere and capitalize on more promising opportunities. Still, the company remains optimistic about the Dutch market and may eventually reapply for a license.
As a result, Betsson will not be divesting any of the assets it has in the Netherlands.
Betsson’s Business Is Steadily Growing despite the Setback
Earlier today, Betsson published its Q2 report, highlighting its performance during the April-June period. In addition to significantly improving its metrics, the operator underlined some of its biggest deals during the period.
This included a sponsorship agreement with the Boca Juniors and the A1 Padel Swedish Master event.
In addition to that, the company successfully secured content from PA Betting Services and inked a distribution deal with Light & Wonder.