Betsson Announces Closure of Shopsson21st December 2009 1:16 pm GMT
Betsson CEO Pontus Lindwall is to personally close down the Shopsson branded retail outlet in Stockholm this Tuesday, following the Administrative Court of Appeal's ruling of December 7th.
As reported last week by Gaming Intelligence, the Administrative Court of Appeal found that Shopsson was guilty of promoting participation in illegal gambling, a crime under Article 38 of Swedish Lottery Law, and ordered to close down or face a fine of SEK2.5 million. (more)
In a statement issued Monday, Betsson said it had "no alternative than to close down the betting shop," thereby avoiding the SEK2.5 million (€250,000) fine, as the court ruling implied that the company "would be fined regardless of an appeal".
Closure of the store, which has been in business for one and a half years, will have an insignificant impact on earnings, according to the company.
"We are very surprised by the court's ruling," said Betsson CEO Pontus Lindwall. "We believe the state is violating the EC-treaty when shutting out private betting companies from the Swedish market, as they at the same time permit the state owned gambling companies to carry out aggressive marketing. We will therefore appeal.
"Something is horribly wrong when Betsson, recognised as the world's most socially responsible operator, cannot operate one betting shop, when Svenska Spel unopposed can operate more than 6,600 Jack Vegas gambling terminals, 6,700 outlets and 4 international casinos," said Lindwall.
Betsson has invited members of the media to attend the official closure of the shop by Lindwall on Tuesday December 22nd at 11 am.