Peru Approves Betsson Gaming Licenses
Betsson AB has been awarded local gaming licenses in Peru's newly launched gambling market.
Betsson had been operating in Peru since 2008.
LISTEN TO THIS ARTICLE:Betsson ventured into Latin America in 2008 when it unveiled its gambling services in Peru. In 2019, the company introduced its Betsafe brand in the country.
Bettson further bolstered its Latin American presence in 2021 when it strategically acquired Inkabet, a leading Peruvian sports betting and online casino brand. Beyond Peru, Betsson is also live in other jurisdictions like Colombia and Argentina in the region.
Earlier this year, after publishing the country's new gambling regulations, Peru's gaming regulator, the Ministry of Foreign Trade and Tourism (Mincetur), gave gaming platforms operating in the country a limited timeframe to apply for fresh licenses.
By securing the new approvals, Betsson now has legal backing for its online gambling and sports betting brands in Peru.
Earlier this week, iGaming provider 7777 Gaming also received a supplier license to operate in Peru. The permit allows the supplier to partner with approved operators and deliver its gaming titles in the jurisdiction.
We have really looked forward to Peru introducing a local regulation and are very pleased with the issuing of these licenses. With this announcement, we affirm our commitment to the local economy and the new regulatory framework in the country.
More Business News
Betsson Q1 Report
In April, Betsson released its financial report for the first quarter of the year, showing a 12% increase in revenue to €248.2m. However, while it experienced a rise in Central and Eastern Europe and Central Asia (CEECA) and Western Europe, Betsson's revenue fell in the Nordics and Latin America.
The operator attributed the LatAm revenue decrease to a lower sportsbook margin and unfavorable fluctuations in currency exchange rates. Specifically, Peru posted lower revenues due to low sportsbook activity.
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