SBC News Voice of the Sports Betting Industry
Following a review of services by Latvia’s Lottery and Gambling Supervision Agency (IAUI), Stockholm-listed European sports betting operator Betsson has been granted concession to offer online betting services through its Triobet brand.
The decision taken by the IAUI will see Betsson’s online assets removed from Latvia’s online gambling blacklist.
The operator is said to want to concentrate its Latvian betting services via Triobet, a former Nordic Gaming Group brand (company acquired in 2012) that has garnered a strong following in Eastern European betting markets.
Baltic state Latvia has garnered a reputation for having a tough set of anti-online gambling laws and sanctions against international operators. Its operator blacklist is reported to have more than 400 European operators, with the IAUI restricting banking transactions and limiting payment processing to site deemed illegal.
Betsson AB brands now operate in the licensed European betting markets of Malta, UK, Ireland, Italy, Georgia, Denmark and Estonia.
Issuing a short statement Betsson governance were pleased that its brand’s services had been approved by the IAUI, stating that the company looked forward to entering the Latvian market under licensed conditions.
Betsson President and CEO Ulrik Bengtsson commented on the matter.
“When outdated legal structures and old monopolies are dismantled, great favorable conditions for long-term profitable growth are created,”
“Our strategy is to increase the proportion of sustainable revenue by participating in local licensing procedures as well as increasing strong growth both organically and by acquiring companies in local regulated markets.”
