Betsson AB is transferring all of its active brands and licenses to Rizk. Presence in the UK market turned convoluted.
Betsson has released a statement where they talked about how the recent regulatory changes in the UK has practically made it impossible to stay in the UK market. These changes required extensive investments in technology that made it unsustainable with the firm’s long term growth objectives.
Users across its different brands, have also been receiving notices through their emails:
“Dear Valued partner. Please note that we have informed the UKGC that, with immediate effect from 10am on 21/10/20, BLM Group Limited has ceased providing gambling services to players located in Great Britain.
BLM Group Limited will continue to trade in other jurisdictions, but not in Great Britain.
We look forward on retaining our partnership with you on other markets we are still operating in and new one we will be entering in the future.”
In a corporate filing, Betsson declared, “This initiative will increase efficiency and have a positive impact on the contribution from its UK business,”
“It will also enable resources to be reallocated for profitable growth in other markets. The other eight brands will be retained in the Group’s portfolio for use in other markets and therefore there will be no need for write down of goodwill or trademark.”
As a result, Betsson confirmed that it has fully withdrawn three of its four UKGC licences with immediate effect – withdrawn Betsson sites include Betsafe UK, CasinoEuro, RaceBets, Jackpot24/7 and SuperCasino.
“The eight UK-facing brands under the returned licenses will be closed with effect from today with no further deposits or bets accepted,” it added. “The customers of these brands will be contacted accordingly, all deposits will be repaid, and all outstanding bets will be paid out as winning bets.
“The operator group expressed its hope that pursuing a one brand strategy will increase efficiency and have a positive impact on the contribution from its business in the region, as well as enabling resources to be reallocated for profitable growth in other markets. “
The eight UK-facing brands under the returned licenses will be closed with effect from today with no further deposits or bets accepted. The customers of these brands will be contacted accordingly, all deposits will be repaid, and all outstanding bets will be paid out as winning bets.
