Betsson CEO Reveals Why UK Is Not Part of Company Investment Plan

Betsson intends to overlook the UK from its long-term strategy as it is no longer considered investable. That is the verdict of the company’s CEO, Pontus Lindwall.

The top-tier Swedish sports betting and casino site, founded in 1963, has made waves across Europe, but due to ongoing regulatory challenges, it will be steering clear of the UK.

After recently releasing its Q1 earnings, Betsson achieved double-digit revenue growth in Western Europe (10.3%). Although revenues climbed across the region, the UK, along with Germany, will continue to be snubbed moving forward.

UK on the fringes

Over the past decade, Betsson has been pulling back on its UK involvement. The company closed down its UK office in 2018, and its market share in the country is small, accounting for roughly 3% of the group’s overall revenues.

Moreover, the introduction of betting taxes announced in the November budget by Rachel Reeves has been off-putting. Earlier this month, remote gaming duty (RGD) paid on online casino betting soared from 21% to 40%, while next April, general betting duty paid on digital sports betting will climb from 15% to 25%.

And Lindwall thinks the UK’s harsh regulatory environment has made it less viable for betting companies to operate in. Speaking on the iGaming Daily podcast, Lindwall said:

“Western Europe, as a whole, is actually a sad story in many ways, where we have seen regulatory development, which is definitely working against the ambitions of the regulators to create a regulated and taxable gaming industry.

“We at Betsson, being quite a big company, are standing more or less outside many of the largest markets in Europe, such as the UK and Germany, two powerhouses of nations with a lot of gaming history, good economic foundations, but we don’t consider them investable as a company, so we leave them for someone else to invest in.”

Betting industry facing strong headwinds

While Betsson’s admission surrounding the UK was a bit of a surprise, it seems that many betting firms are trying to withstand the strong headwinds they face.

Earlier this year, Flutter announced its UK & Ireland (UK&I) revenue for 2025 dropped to £2.63 billion, and that was in part, owed to terms of a White Paper being implemented.

William Hill’s owners, Evoke, meanwhile, have been the subject of a takeover bid from Bally’s, and they have been saddled with debts totalling £1.8bn. Perhaps Evoke and Flutter, have served as warning signs to Betsson to retreat rather than lean more into the UK as part of its investment strategy.

Trying to penetrate other markets

More tellingly, Betsson’s Q1 revenues in Latin America shot up by 24% year-on-year (YoY) to £80.6m. And Lindwall is excited about the foundations that have been laid there.

He added:

“The Latin America market is a little bit, let’s say, behind Europe on the timeline of development. That means that it’s not as well penetrated yet by online gaming, so we believe there is strong structural growth in many of these markets going forward.

“We have good positions in a few of these markets. I think we’re definitely number one in Argentina. We’re well-positioned in other markets as well, with good brand recognition and technology, which has been proven there for quite some time. We are definitely optimistic about the future in that region.”

Betsson have also confirmed they remain committed to mergers and acquisitions (M&A) moving forward. But whether they will regret overlooking the UK for investment remains to be seen.