Legal & Regulatory News

Betsson Group, the operational subsidiary of Stockholm-listed Betsson AB, has joined the European Gaming and Betting Association (EGBA) to push for more effective gambling regulations in the European market.

Betsson said the move was in response to its expansion in locally regulated markets in Europe, and a desire to ensure that such regimes are compliant with European Union law.

The operator already has links to the EGBA through its membership of Swedish operator association Branschföreningen för Onlinespel (BOS), which became an EGBA affiliate association in December 2015.

"With the current wave of local regulation taking place across Europe, Betsson wants to expand its revenue from locally regulated markets. It is important that these markets' licensing regimes are compliant with EU law and the increasing EU regulation applicable to online gambling," said Betsson chief executive Ulrik Bengtsson.

"EGBA's knowledge, expertise and support will assist Betsson in this arena. For an evidently cross border sector like ours, effective application and enforcement of EU law is crucial."

Maarten Haijer, secretary general of EGBA, added: "We are very delighted that Betsson Group has joined the EGBA. Betsson has historically been an established company in the Nordic markets, who are now increasing their market share outside of the Nordics holding licenses in 10 countries in Europe, they are a truly European company.

"Their addition bolsters even further our ability to be the voice of industry when speaking to regulators and policy makers about the many regulatory challenges facing the industry."

Shares in Betsson AB (Co.Data) (STO: BETS-B) were trading down 0.37 per cent at SEK81.15 per share in Stockholm Wednesday morning.