Betsson Rejects Dutch iGaming Market Return amid Regulatory, Government Challenges
Betsson has officially withdrawn from its planned re-entry into the Dutch iGaming market, terminating its acquisition agreement with Holland Gaming Technology Ltd and Holland Power Gaming B.V. The decision was confirmed by the company following continued delays by the Netherlands Gambling Authority (KSA), which failed to provide regulatory approval within the agreed timeframe.
LISTEN TO THIS ARTICLE:The acquisition, initially announced in February 2024, was seen as a strategic step for Betsson to re-establish its presence in the Dutch online gambling sector. The purchase was contingent on securing approval from the KSA, which oversees the licensing and regulation of gambling activities in the Netherlands. However, the licensing process did not progress in line with expectations, prompting Betsson to cease its efforts and dissolve the agreement.
As a result of the terminated deal, ownership of Holland Gaming Technology and Holland Power Gaming will revert to their original proprietors. Betsson will receive a repayment of €26.7 million from the original €27.5 million purchase price. The €800,000 difference represents a break fee, which was built into the agreement to account for the possibility of an unsuccessful closure.
The failed acquisition comes at a time of mounting uncertainty in the Dutch political and regulatory landscape. The KSA's delay in issuing a decision has been accompanied by broader instability within the Netherlands' government, which has further complicated the outlook for gambling reform.
On June 3, tensions within the governing four-party coalition erupted into a crisis, only a year after it assumed power. An emergency meeting convened by Prime Minister Dick Schoof in an attempt to resolve internal disputes ended with a dramatic exit by Geert Wilders, the leader of the PVV, the coalition's largest party.
Wilders departed from the meeting abruptly and announced shortly afterward on social media that his party was withdrawing support for the coalition. His decision stemmed from disagreements over proposed immigration policies, which were reportedly not accepted by the other coalition members.
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The political fallout leaves the future of various policy initiatives, including gambling reform measures, in a state of uncertainty. With the ruling coalition effectively disbanded, the Dutch legislature faces a period of instability that could further delay or derail regulatory processes in sectors such as iGaming.
Betsson's move to pull out of the Dutch market marks a significant setback in its European expansion strategy. The company had exited the Dutch market in 2021 to comply with new regulations requiring unlicensed operators to withdraw until obtaining local licensing.
The planned acquisition in 2024 was Betsson's attempt to re-enter the jurisdiction through an already licensed operator. However, the lack of progress from the KSA and the increasingly complex regulatory environment led to the ultimate collapse of the plan.
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