Betsson Withdraws Dutch Licence Application, Cites Significant Delays
Published July 20, 2023 by OCR Editor
Betsson, a prominent online gambling operator, has withdrawn its application for a gambling license in the Netherlands due to significant delays in the approval process. This move comes as Betsson reports record revenue growth in its Q2 results.
Betsson has announced that it is withdrawing its application for an online gambling license in the Netherlands. The operator, which had been seeking a request through its subsidiaries, cited "significant delays" in the licensing process as the reason for its decision. Additionally, the company considered resource allocation factors and the attractive project pipeline in other markets when making this move. However, Betsson has expressed the possibility of reapplying for a Dutch license.
This withdrawal marks almost two years of inactivity for Betsson in the Netherlands. The operator exited the market in September 2021, just one day before the country's regulated iGaming market launched. Betsson and other prominent brands withdrew following a policy update that clarified operators passively accepting Dutch bets were still subject to a cooling-off period. At the time, Betsson hoped its withdrawal would facilitate its entry into the country's legal market. Failure to obtain a license could result in disciplinary action from the regulator Kansspelautoriteit (KSA) for operators offering iGaming services without proper licensing.
Betsson closed its Dutch-facing brand Casino Winner in January 2023 to further support its licensing initiatives. The operator operated the brand through its subsidiary, Corona Ltd, which controlled the Casino Winner and Loyal Casino businesses. These sites were previously known as Kroon Casino and Oranje Casino properties. Betsson acquired both properties in 2014, anticipating the future re-regulation of the Dutch market, which eventually took another seven years to materialize.
Despite the Dutch license withdrawal, Betsson reported record revenue in its Q2 results. The group revenue for the three months ending 30 June reached €236.8 million, a 27.1% increase compared to Q2 2022. This figure also surpassed the previous record set in Q1 this year. Casino revenue was highlighted in Q2, reaching a record-breaking €165.1 million, while sports betting revenue saw a 12.7% year-on-year increase. Mobile accounted for 85% of sports betting revenue, and turnover in this segment also experienced substantial growth. Other product revenue, including poker and bingo, climbed 8.9% to €2.3 million.
Despite withdrawing from the Dutch market, Betsson's strong financial performance in Q2 reflects its continued growth and success in other markets.
