The Betsson Group has been reducing their business across the UK region for the past few years, today marks the biggest reduction of their UK operations.
The group had previously operated nine brands in the UK operating on three different platforms and under four different licenses. Today, however, they have consolidated their entire operation under the Rizk brand.
Rizk is their online casino and sports betting brand operating in the UK, with the ongoing pandemic and the government-mandated shut down of many different in-person activities, the focus on the online betting industry is a smart move to weather the current financial climate.
In a roundtable interview with SBC News, Jesper Svensson, CEO of Betsson Group, said “Betting needs to be at the forefront of digitalisation. Compared to other industries, we should be positive in that we have adapted to challenges better than the majority of sectors”.
In order to focus their attention on the Rizk brand, Betsson has handed back three of their four gambling licences to the UK Gambling Commission, one licence was already under review. The eight UK focused brands have been shuttered with immediate effect. They are not accepting any new deposits or bets and all current customers will be contacted to notify them.
If you are a current customer there is little to be worried about, the group has confirmed that any current customers with existing bets or deposits will be repaid. If you paid a deposit, it will be refunded and if you placed a bet, they will be paid out as if you had won.
The Betsson Group cited numerous reasons for their consolidation in a press release they posted about the change:
“Betsson’s market share in the UK is relatively small with revenues currently representing approximately 3% of the Group’s revenue. The UK regulatory framework has undergone significant changes in the past few years, requiring extensive investments both in technology, regulatory compliance as well as marketing, which is not sustainable with the Group’s current UK setup.”
The group hopes that by consolidating their businesses in the UK they will be able to increase their efficiency and improve the remain business that they have in the region. The consolidation will also allow for increased investment in other, more profitable areas of their business. This means that the eight brands closed in the UK have not been shuttered globally, they remain in the Groups portfolio and can be used in other parts of the globe.
In regard to the rest of the globe, Betsson is doing well. They have recently extended their partnership with football giant AC Milan through to the end of the 2022-23 season. Betsson’s Italian online casino property, Star Casino launched their new online content platform exclusively focused on AC Milian, starcasino.sport.
They are following Italian Decree laws on gambling and the news portal does not advertise or promote any of their casinos or online betting sites. Betsson CCO, Ronni Hartvig, had this to say about the partnership:
“The aim of Betsson Group is to create engaging, amazing and safe experiences for all users and, through our brand StarCasinò.sport, we propose innovative and exciting storytelling of sports. The renewal of the partnership with AC Milan, a top-class Club, is very important for us in terms of broadening our image and it allows us to create high-quality entertainment for the Rossoneri fans as well as for all football fans.”
By combating their small market share in the UK and consolidating their businesses, they will be able to improve their operations in mainland Europe and even further abroad.
See also: Esports Betting guide 2020
Photo Credits: Betsson Group