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“When outdated legal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
are currently trading up 2.07 per cent at SEK113.60 per share in Stockholm this