Betsson AB’s European expansion in 2016

European sports betting operator, Betsson AB, recently made bold moves to increase its market profile in 2016 through securing licenses to trade in Latvia and Ireland. The Stockholm-listed brand was given the go-ahead by Latvia’s Lottery and Gambling Supervision agency to operate in the nation that has previously shown resistance to operators who facilitate the activities of gambling via the new internet technologies.

The move will help Betsson AB gain a valuable foothold in the fledgling East European betting market that’s only just beginning to be opened up to such entertainment companies. Betsson have already created some interesting business developments in 2015 thanks to a $50 million acquisition of the Georgian betting operator Europe-Bet that earned them a 30% market share in the eastern European nation.

The online betting market has proven remarkably successful for many of these brands. Just last year Betsson AB reported its highest revenue quarter ever with a revenue increased by 14% to SEK 860.6 million.

Much of this is thought to be down to the firm’s ability to maximise sports betting opportunities through the likes of high-profile sporting tournaments such as the FIFA World Cup. But interestingly, their online gaming subsidiaries like mrsmithcasino.co.uk have bolstered Betsson AB’s international profile thanks to the widespread use of mobile technologies facilitating simple games of poker, roulette and slots.

It’s pioneering work like this that has helped Betsson become the first and only pure internet company to be listed on the NASDAQ Stockholm Large Cap list. And with their subsidiary Betsafe becoming the first gambling company to successfully implement an app specifically for  HYPERLINK the high-profile Apple TV platform, it’s expected that this area will turn increasingly profitable throughout 2016.

In addition to these startling developments is the fact that Betsson AB also managed to successfully gain a license to operate within Ireland. This increases the brand’s reach significantly across the whole of the Europe from Malta and Italy, to particularly profitable countries such as Denmark and the UK.

2016 will be poised to be a significant year for the brand as it has also been announced that Ulrik Bengtsson will be stepping up to take control of the brand following Magnus Silfverberg leaving in June of last year. The new Betsson chief executive will be taking charge as double CEO of the company and with these impressive new additions to the brand’s territories, it’s expected that 2016 could be a big year for Betsson AB.