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    Betsson AB: The rocky road to glory

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    Betsson might be cutting down in some regions but they continue to ride the waves of expansion. Keep reading to find out more.

    The year has created some rocky roads but the online casino industry continues to grow from strength to strength.

    For some gaming operators such as Betsson AB, growth leads to limiting casino availability in one region to focus on others.

    Betsson AB is a giant in the industry and implementing all the necessary measures to continue their growth and expanding.

    Humble beginnings

    Betsson has more than 50 years of experience in the industry and prides itself in being a multi-product online gaming brand.

    And to think it all started with a single slot machine listed on Nasdaq Stockholm in 1963! At that time, the company had gaming licenses in only 15 jurisdictions.

    Today Betsson operates in over 10 different locations employing more than 1,600 people from over 50 nationalities.

    It all starts with Cherry, which is the main company that created the foundation for a new corporation after acquiring several commercial gaming companies in 1984. Per Hamberg, Rolf Lundstrom, Lars Kling and Bill Lindwall founded Cherry in 1963.

    The current Betsson Group chief executive, Pontus Lindwall is a descendant of one of the founding fathers. Pontus became the CEO in 1998. At the same time, Cherry acquired 35% of Net Entertainment AB. And in 2003, Cherry acquired Betsson, increasing its growth rapidly between 2003 and 2004.

    In 2005, Cherry purchased the last of the Betsson shares announcing that the company should be split in three with NetEnt and Cherry Casino distributed to shareholders.

    Big changes

    Betsson distributed NetEnt to the shareholders in 2007 and reached 1 billion SEK in revenue in 2008. Then in 2009, Betsson celebrated as one of the subsidiaries launched a mobile sportsbook and Betsson received the 'most responsible gaming operator' award at the EGR Awards.

    In 2010, Betsson launched Betsson Business Solutions to develop B2B business. 2011 was another eventful year as the company acquired an Italian license and launched StarCasino. On top of that, Betsson managed to acquire Betsafe, a top competitor!

    The brand continues with expansion, obtaining licenses in various regions including Ireland and Latvia.

    In 2017, Pontus Lindwall was promoted to President and CEO of Betsson AB. And most recently, Betsson has acquired the Gaming Innovation Group's B2C vertical, Zecure Gaming Limited. This includes top casino brands such as Guts, GutsXpress, Kaboo, Rizk and Thrills.

    Less UK face time

    Just recently Betsson announced that it will be withdrawing 8 of its 9 UK-facing brands from the market. Leaving only Rizk Casino for UK players to explore, closing Betsafe, Betsson, Casino Euro, Guts Casino, Live Roulette, Jackpot247, Racebets and Kaboo Casino with immediate effect.

    While the closure was sudden, it came with the promise that customers with active bets or funds will receive funds paid out as winnings. The main reason behind the change being the poor revenue brought in by the UK Market.

    According to Betsson's statement, the UK market only accounts for 3% of its total revenue. And with the increase in regulatory restrictions, it became an even easier decision. The expenses and investments that go into marketing, technology and regulatory compliance weren't worth the revenue.

    Since the NetPlay acquisition in 2017, it has become clear that Betsson is working towards cutting down UK marketing spending, with this recent move being one of the more definitive in their arsenal.

    New markets, future growth and exploration

    Betsson is one of the brands that has already established itself with a reputable and trusted reputation. The company continues to grow and look for new and innovative ways to improve and expand its reach in the iGaming industry.

    Considering that Betsson started their journey with a single slot machine and today the brand is a dynamic force to reckon with, responsible for the creation of the most creative online slots, table games and live casino games – it continues to impress.

    With over 5 decades of experience, they've perfected the art of creating highly entertaining games. The Betsson portfolio produces the best slots, table games, live casino variants and even sports betting options.

    Published: November 17, 2020

    Anything incorrect or missing?

    Let us know

    Article by Stelly

    CasinoWow Contributor

    Hey there! I am Stelly, and happily, I'm part of CasinoWow's content team. It excites me to be able to write and share with all gambling enthusiasts unbiased reviews and news that contribute to the gambling community and industry. Thankfully, I also have the chance to help you make an informed choice for casino brands and games, as well as provide interesting guides and news.

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