Betsson subsidiary picks up Latvian licence

Betsson has announced that its Triobet subsidiary has secured a gaming licence in Latvia.

The licence will allow Triobet to offer services in the country, as well as enable Betsson to exit Latvia’s gambling blacklist.

Betsson now holds licences in Denmark, Estonia, Georgia, Ireland, Italy, Latvia, Malta and the UK.

Ulrik Bengtsson, president and chief executive of Betsson, said: “When outdated legal structures and old monopolies are dismantled great favourable conditions for long-term profitable growth are created.

“Our strategy is to increase the proportion of sustainable revenue by participating in local licensing procedures as well as increasing strong growth both organically and by acquiring companies in local regulated markets.

“The gaming tax in Latvia is 10% on gross gaming revenue, which is a level that guarantees high channelling and a sustainable system.”

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