License: Pexels, Free to use, Author: Teodor Savin
Betsson, the prominent online gambling operator, has decided to withdraw its application for an online gambling licence in the Netherlands due to significant delays in the approval process. The operator has been seeking a licence through its subsidiaries to launch online gambling services in the country.
The decision to withdraw the application was made public in Betsson's second-quarter report, which was published on July 20. Betsson cited the lengthy delays in the licensing process and also considered resource allocation considerations, as the company has an "attractive" project pipeline in other markets.
Betsson had been inactive in the Netherlands for almost two years, having pulled out of the country in September 2021, just one day before the country's regulated igaming market was launched. The withdrawal came after a policy update clarified that operators that passively accepted Dutch bets were still subject to the cooling-off period. At that time, Betsson hoped its withdrawal would enable future entry into the country's legal market.
Operators offering online gambling without a licence may face disciplinary action from the Dutch regulator, Kansspelautoriteit (KSA), which could impact any future licence applications to operate legally in the market.
In the Q2 results, Betsson reported record group revenue, with revenue for the three months ending June 30 reaching €236.8 million, a 27.1% increase compared to Q2 2022. Casino revenue was a highlight in Q2, reaching a record €165.1 million, with sports betting revenue also experiencing a 12.7% year-on-year increase at €58.5 million. Betsson's decision to withdraw the Dutch licence application doesn't rule out the possibility of reapplying for a Dutch licence in the future.