Betsson’s Triobet brand secures operating licence in Latvia

Swedish operator Betsson has secured a licence to offer its services to Latvian customers via its Triobet brand following approval from the country’s gambling regulator the Lotteries and Gambling Supervision Inspection (IAUI).

The licence means that a number of Triobet sites are likely to be removed from the IAUI’s blacklist of unlicensed gambling domains. 

Betsson has owned Triobet since April 2012, when it acquired parent company Nordic Gaming Group for an initial €60m in cash and €5m in shares.

Having secured the Latvian licence, Betsson has further increased its regulatory footprint, now holding licences in Malta, Denmark, the UK, Ireland, Italy, Estonia and Georgia.

“When outdated legal structures and old monopolies are dismantled great favorable conditions for long-term profitable growth are created,” Betsson president and chief executive Ulrik Bengtsson commented.

“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.

“The gaming tax in Latvia is 10 percent on gross gaming revenue which is a level that guarantees high channeling and a sustainable system,” he explained.

Shares in Betsson AB (Co.Data) (OMX:BETS-B) are currently trading up 2.07 per cent at SEK113.60 per share in Stockholm this morning.


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