Betsson abandons intention to re-enter Dutch gambling arena

Betsson Bows Out of Dutch iGaming Market Once More

In a recent announcement, Betsson confirms that they will not be making a return to the Dutch gambling market, following a prolonged delay by the regulator on approving the acquisition of two key assets, Holland Gaming Technology Ltd and Holland Power Gaming B.V.

Initial plans were set in motion in early 2024 when Betsson made payments to acquire these companies. However, due to the legal limbo the deal fell into, the company will now get a refund totaling €54.2 million, with €26.7m going back to Holland Gaming Technology and the remaining €27.5m to Holland Power Gaming respectively.

Back-to-Back Letdowns

This attempt marked Betsson's second try in as many years to re-enter a market they had once thrived in, despite the competitive landscape becoming tougher with the recent regulations. The previous attempt in 2023 also hit a snag due to regulatory delays and the cost associated with the process, eventually causing them to withdraw their application.

With the latest setback, it's uncertain what the future holds for Betsson in the Netherlands. However, their dream of re-entering the Dutch iGaming market remains a distant prospect.

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Insight: Betsson abandoned its plans to re-enter the Dutch iGaming market via the acquisition of Holland Gaming Technology Ltd and Holland Power Gaming B.V. due to prolonged regulatory delays. The deal, valued at approximately €27.5 million ($31.44 million), was contingent upon approval from the Kansspelautoriteit (KSA), the Dutch Gambling Authority. However, the KSA failed to make a decision by the agreed long-stop date, prompting Betsson to cancel the transaction[1][2][3]. As a result of the cancellation, Betsson will receive a refund of €26.7 million ($30.52 million), minus a break fee[2]. This move was part of Betsson's strategy to re-enter the regulated Dutch iGaming market, following its exit in September 2021. The company had hoped that acquiring these already licensed entities would allow it to bypass licensing delays, but the regulatory hurdles persisted[2][4]. Betsson now plans to pursue other business opportunities, indicating that the failed acquisition will not significantly impact its overall financial results[4][5].

Despite facing another regulatory setback, Betsson's aspirations of re-entering the Dutch iGaming market, featuring casino-games, gambling-trends, and lotteries, remain undeterred.
The ongoing challenges in the casino-and-gambling sector, particularly in the Netherlands, have been a recurring issue for Betsson, with gambling-trends indicating potential complications in their future strategies.