Betsson

Last updated
Betsson AB
Company type Publicly traded (aktiebolag)
Nasdaq Stockholm:  BETS B
Industry Online gambling
(holding company)
FoundedSweden (December 3, 1963 (1963-12-03))
FounderBill Lindwall and Rolf Lundström
Headquarters Ta' Xbiex, Malta
Key people
Pontus Lindwall
(CEO since September 4, 2017)
Brandsbetsson.com
betsafe.com
casinoeuro.com
nordicbet.com
krooncasino.com
and more
Revenue€777 million (2022)
€131 million (2022)
Number of employees
1800
Subsidiaries Betsson Malta Ltd
Website
Footnotes /references
Annual Report 2022 [1]

Betsson AB is an online gambling company, producing casino, poker, bingo, sports betting, and scratch cards websites, through more than 20 online gaming brands, including betFIRST, Betsson, Betsafe, and NordicBet. [2] Betsson AB is listed on the Nasdaq Stockholm Large Cap List. [1] [3] [4]

Contents

Corporate history

Betsson AB can trace its roots back to 1963, and the foundation of AB Restaurang Rouletter by Bill Lindwall and Rolf Lundström, later renamed Cherryföretagen AB (Cherry), which provided slot machines to restaurants in Sweden. Cherry acquired a minority share of Net Entertainment in 1998, which was a company co-founded with Investment AB Kinnevik, tasked with developing online gaming solutions. The rest of the shares in Net Entertainment held by Kinnevik was acquired by Cherry in 2000, making Kinnevik the largest shareholder of Cherry in the process. In 2003, after the return of Pontus Lindwall (son of Bill Lindwall), as the CEO of Cherry, the company buys into Betsson (founded by Henrik Bergquist, Anders Holmgren and Fredrik Sidfalk), which had a gaming licence in England at that time, and later acquires a license in Malta. In 2006, Cherryföretagen changes its name to Betsson and the traditional gaming operation in the business sector of Cherry merges into a new group, Cherryföretagen, which later shortens the name back to Cherry and launches its own online sector based in Malta. [5] Ulrik Bengtsson stepped up as CEO of Betsson in March 2016, and took over after Pontus Lindwall, who has stayed on as chairman of the board. Ulrik Bengtsson stepped down as CEO on 09.04.2017 and was succeeded by Pontus Lindwall. As a consequence, Patrick Svensk was appointed chairman of the Board after Pontus. [6] [7] [8] [9]

In May 2021, Betsson obtaining two licences from the Hellenic Gaming Commission for their brand. [10]

In May 2021, Betsson partnered with Norwegian Toppserien women's football club Avaldsnes IL. [11]

In 2021, it was announced that Betsson will be launching in Mexico through a partnership with local company Big Bola Casinos. [12] In 2021, Betsson agreed a deal to become a regional sponsor of the 2021 Copa América. [13] As part of the deal, Betsson will acquire branding rights.

In 2021, Betsson expanded its operations in Eastern Europe with the launch of new brand Europebet and a new office in Minsk, Belarus. [14] Under the brand Europobet – Betsson will offer casino, sportsbook and poker services. [15]

In 2021, Betsson announced CEO Pontus Lindwall is to step down. The company is on the lookout for a new CEO after Lindwall accomplished the task of getting the betting company back on track. Lindwall stays on as CEO until a new CEO is hired. [16]

In February 2022, Betsson debuts online betting in Buenos Aires city and province (Argentina) with local operator Casino Victoria. [17]

In July 2022, Pontus Lindwall reported that organic growth is a perfect strategy for Betsson. Between April and June, group's organic traffic from Latin America, Central and Eastern Europe and Central Asia increased the growth by 13%. [18] Total revenue from the region reached €45.7m in Q2 which increased by 86.2% compared to the previous year. [19]

Products

Betsson AB's subsidiaries owns and operates a number of websites via its subsidiaries in Malta, where is its operational headquarter. [1] [20]

In November 2017, Betsson signed a deal with Scout gaming to integrate its daily fantasy sports platform across all its brands, including BetSafe, its UK facing online bookmaker. The integration is expected to be completed by 2018. [21]

Mobile Apps

BetSafe released the free mobile app for App Store on May, 26 in 2016. Since then it has 25 updates.

Later in 2016, Betsafe has added Poker and Virtual Sports to their app. In new updates they have also added new games, recently played widget, personalized casino lobby and have included a navigation tab bar.

As for Android, Betsafe provides an app developed by BML Group ltd, compatible with wide range of Android devices including Samsung, Xiaomi, Motorola, Huawei, Vivo, LG, Sony, and HTC. [22]

Business acquisitions

In 2011 the company acquired all of the shares in the Betsafe Group for SEK 292 M. The aim of the acquisition was to increase Betsson's market presence and enable continued growth. The acquisition grew Betsson's number of customers to approximately 419,000 — surpassing Unibet in the number of active players. That same year Betsson signed an agreement with a Chinese state-owned company regarding the development of joint-owned gaming operations. [23] [24]

In March 2017, Betsson completed its £26 million acquisition of NetPlay TV's assets, adding Jackpot247 , SuperCasino and Vernons to its European gaming multi-brand portfolio. [25]

In February 2020, Betsson acquired Gaming Innovation Group B2C assets. [26]

In August 2021, Betsson acquired Inkabet. Betsson subsidiary SW Nordic Limited brokered the $25 million deal. [27] As part of the deal Betsson agreed to a $4 million performance incentive if Inkabet outperform EBIT targets. [28]

In August 2021, Betsson acquired 28% of Canadian start-up Slapshot Media Inc, for a purchase price of $2.4 million. [29]

Data breach

In January 2020 Jackpot247 sent emails to all of their customers advising them that they had suffered a data breach. [30] ref

Related Research Articles

<span class="mw-page-title-main">Modern Times Group</span> Digital entertainment company

Modern Times Group (MTG) is a digital entertainment company based in Stockholm, Sweden. It formed from the media holdings of investment company Kinnevik, which in 1997 was distributed to the company stockholders. It is a strategic and operational investment holding company, managing a portfolio including gaming companies InnoGames, Ninja Kiwi and Kongregate, and digital network company Zoomin.TV.

Bwin.Party Digital Entertainment was an online gambling company, formed by the March 2011 merger of PartyGaming plc and Bwin Interactive Entertainment AG. Formerly the world's largest publicly traded online gambling firm, it was best known for its online poker room PartyPoker, World Poker Tour and its sports betting brand Bwin.

Evoke plc, formerly 888 Holdings Limited, is an international sports betting and gambling company. It owns brands such as 888casino, 888poker, 888sport, Mr Green, and William Hill. Business operations are led from its headquarters in London, alongside satellite offices in Bucharest, Ceuta, Gibraltar, Leeds, Malta, Sofia, and Tel Aviv. It is listed on the London Stock Exchange.

Playtech plc is a gambling software development company founded in 1999. The company provides software for online casinos, online poker rooms, online bingo games, online sports betting, scratch games, mobile gaming, live dealer games and fixed-odds arcade games online. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

bwin Austrian online betting brand

bwin Interactive Entertainment AG, formerly known as Betandwin, is an Austrian online betting brand acquired by Entain PLC. The group operated under international and regional licences in countries like Gibraltar, the Amerindian reserve of Kahnawake (Canada), and Belize; and Germany, Italy, Mexico, Croatia, Austria, France, and the United Kingdom in Europe. Bwin offered sports betting, poker, casino games, and soft and skill games, with most revenue coming from poker and sports betting. Bwin had over 20 million registered customers in more than 25 core markets. Competence centres were located in Vienna, Stockholm, and Gibraltar.

<span class="mw-page-title-main">Kindred Group</span> Online gambling company

Kindred Group is an online gambling operator which consists of nine brands, among them Unibet, Maria Casino and 32Red. The Group offer products such as online casino, online poker, online bingo, and sports betting. The company is registered in Malta, but also has major hub offices in Gibraltar, London, Stockholm and the US in addition to smaller satellite offices across Europe and Australia. Kindred Group is a publicly listed company on the Stockholm Stock Exchange (Nasdaq). In 2017, the company's revenue was GBP 751.4 million.

<span class="mw-page-title-main">Quikr</span> Indian multinational online marketplace company

Quikr is an Indian online marketplace and classified advertising company, based in Bangalore, India. Quikr has listings in over 1000 cities in India and in categories such as mobile phones, household goods, cars, real estate, jobs, services and education. It was founded by Pranay Chulet and Jiby Thomas in 2008.

Patrik Selin, also known as "Silent Selin" in the poker world, was the former CEO and president of the Ongame Network and Gnuf.com, and later chief executive officer of Bodog UK, an online gaming and entertainment website.

bet-at-home.com

bet-at-home.com AG is a European online gambling and sports betting company that was founded in 1999.

Samvo Group specialized in program trading, bookmaking, sports betting brokerage services, betting cafés, igaming and peer-to-peer gaming. Samvo Group had offices located in London, Guernsey and Hong Kong.

Mr Green is an international online gambling company founded in 2007. Its product offering includes sports betting and online casino. In January 2019, Mr Green was acquired by William Hill for £242m. In July 2022, William Hill was subsequently acquired by Evoke plc for £2.2 billion.

<span class="mw-page-title-main">The Stars Group</span> Canadian gaming and online gambling company

The Stars Group Inc. was a Canadian gaming and online gambling company headquartered in Toronto, Ontario, Canada. Its shares were traded on Nasdaq and the Toronto Stock Exchange. It primarily operated poker, casino, and sports betting products under the PokerStars, Full Tilt Poker, BetStars, and Fox Bet brands.

<span class="mw-page-title-main">TonyBet</span> International online gaming company

TonyBet is an international online gaming company providing sports betting, live betting and live gaming services. The TonyBet website offers a live gaming service allowing the players to place bets on lottery, casino, poker and other games live.

Flutter Entertainment plc, formerly Paddy Power Betfair plc, is an international sports betting and gambling company. It is listed on the London Stock Exchange, and is a constituent of the FTSE 100 Index, as well as having a secondary listing on the New York Stock Exchange. It owns brands such as Betfair, FanDuel, Paddy Power, PokerStars, Sky Betting & Gaming, and Sportsbet.

Entain plc, formerly GVC Holdings, is an international sports betting and gambling company. It is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index. It owns brands such as bwin, Coral, Ladbrokes, PartyPoker and Sportingbet.

LeoVegas AB is a Swedish mobile gaming company and provider of online casino and sports betting services such as table games, video slots, progressive jackpots, video poker and live betting to a number of international markets. LeoVegas Gaming Ltd. is a subsidiary of MGM resorts international.

<span class="mw-page-title-main">Unibet</span> Online gambling company

Unibet is a sports betting, online casino, bingo and online poker platform. Unibet is a part of Kindred Group–an online gambling operator which consists of 11 brands along with Maria Casino, Stan James, 32Red, and iGame. Today, Unibet has over 1,500 employees and offices in Malta, London, New York, and Gibraltar among others. Unibet launched its first online website in 1999, launched live betting service in 2003 and introduced mobile site in 2004.

<span class="mw-page-title-main">Gaming Innovation Group</span> Online gambling company

Gaming Innovation Group Inc. is an iGaming company offering cloud-based product and platform services and performance marketing to its B2B partners. The company is listed on the Oslo Stock Exchange under the ticker symbol "GIG", and on Nasdaq Stockholm under the ticker symbol "GIGSEK".

betFIRST is a brand owned by Betsson AB, an online gambling company that operates various websites offering casino games, poker, bingo, sports betting, and scratch cards under more than 20 online gaming brands. Betsson AB holds licenses in several regulated markets, including Belgium. Since 2011, SAGEVAS S.A. has held an F license for sports betting and agencies, and since 2014, it has obtained a License B+ for online casinos. In 2013, it acquired the B license for casino games and arcade games through the acquisition of the company B&M, which previously held the license. In 2024, Betsson AB formed a partnership with the Casino de Middelkerke, owned by Groupe Partouche, which holds an A+ casino license. betFIRST has emerged as one of the top three players in the Belgian betting sector.

References

  1. 1 2 3 "2022 Annual Report" (PDF). Betsson AB.
  2. ↑ "Gaming brands". www.betssonab.com. Retrieved 2024-05-14.
  3. ↑ "Koncernstruktur - Betsson AB". Solid Info. Archived from the original on 12 August 2014. Retrieved 5 August 2014.
  4. ↑ "About Us". Betsson. Retrieved 5 August 2014.
  5. ↑ http://cherry.se/en/cherrys-history/%7C Cherry. Retrieved 7 April 2017
  6. ↑ "BETSSON AB - Grunddata" (in Swedish). Solid Info. Archived from the original on 2019-06-30. Retrieved 5 August 2014. Registrering och aktivering: Bildat 1963-12-02 BV, Namn registrerat 2006-06-13 BV
  7. ↑ "History". Betsson. Archived from the original on 2014-09-14. Retrieved 5 August 2014.
  8. ↑ Linnala, Tomas (18 March 2010). "Betsson - superaktien som stigit över 11 000 procent". Svenska Dagbladet (in Swedish). Retrieved 5 August 2014.
  9. ↑ "Tar hem spelet" (in Swedish). Affärsvärlden. Archived from the original on 8 August 2014. Retrieved 5 August 2014.
  10. ↑ "Betsson obtains Greek betting and gaming licences". iGaming Business. 24 May 2021. Archived from the original on 2021-05-24. Retrieved 17 June 2021.
  11. ↑ "Avaldsnes IL secures its 'biggest sponsorship deal of all time' with Betsson". Insider Sport. 21 May 2021. Archived from the original on 2021-05-21. Retrieved 17 June 2021.
  12. ↑ "Betsson to enter Mexico through Big Bola deal". iGaming Business. 12 April 2021. Archived from the original on 2021-05-16. Retrieved 3 June 2021.
  13. ↑ "Betsson scores regional sponsorship deal with Copa América 2021". iGaming Business. 2 June 2021. Archived from the original on 2021-06-02. Retrieved 3 June 2021.
  14. ↑ "Betsson brings poker to Belarus through Europebet brand". iGaming Business. 14 July 2021. Archived from the original on 2021-07-14. Retrieved 16 July 2021.
  15. ↑ "Betsson expands in Europe by launching Europebet in Belarus". Gambling Insider. 14 July 2021. Archived from the original on 2021-07-15. Retrieved 16 July 2021.
  16. ↑ "The Board of Betsson begins process to find a replacement for longtime CEO and founder Pontus Lindwall". www.betssonab.com. Retrieved 2021-09-17.
  17. ↑ "Betsson debuts online betting in Buenos Aires city and province with local operator Casino Victoria". Yogonet. Yogonet.
  18. ↑ "LatAm now is a Betsson's largest market". iGaming Business. 21 July 2022. Retrieved 31 July 2022.
  19. ↑ "Betssons Record Breaking Revenue in Q2". casinority.com. 24 July 2022. Retrieved 31 July 2022.
  20. ↑ "Om Betsson" (in Swedish). Betsson AB. Retrieved 6 April 2016.
  21. ↑ "Betsson signs deal to integrate daily fantasy sports platform". BestBettingSites.uk. 27 November 2017. Retrieved 27 November 2017.
  22. ↑ "Betsafe Casino Mobile App Review". JackMobileCasinos. 2019-01-26. Retrieved 2020-06-24.
  23. ↑ "Annual Report 2011" (PDF). Betsson AB. Archived from the original (PDF) on 2 April 2015. Retrieved 5 August 2014.
  24. ↑ "Betsson i ledande roll". Dagens Nyheter (in Swedish). 22 May 2011. Retrieved 5 August 2014.
  25. ↑ "Betsson completes £26 million acquisition of NetPlay TV". SBC News. 2017-03-31. Retrieved 2017-06-17.
  26. ↑ "GiG strikes deal to offload B2C assets to Betsson". iGaming Business. February 14, 2020.
  27. ↑ "Betsson set to grow LatAm presence with Inkabet acquisition". iGaming Business. 12 August 2021. Archived from the original on 2021-08-12. Retrieved 13 August 2021.
  28. ↑ "Betsson Strengthens Its LatAm Presence with Inkabet Takeover in Peru". Gambling News. 12 August 2021. Archived from the original on 2021-08-12. Retrieved 13 August 2021.
  29. ↑ "Betsson turns to Canada with Slapshot Media investment". iGaming Business. 13 August 2021. Archived from the original on 2021-09-10. Retrieved 10 September 2021.
  30. ↑ "Jackpot247 Suffers Data Breach". Casino Listings Online. 21 January 2020. Retrieved 29 January 2020.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.