Swedish gaming giant, Betsson, has successfully secured online casino and sports betting licences in Peru, extending its presence in the South American market. The newly acquired licences apply to both Betsson’s existing brands and its recently acquired local business, Inkabet, which is expected to receive its own licence approval shortly.
Betsson has been an active player in the Peruvian market since 2008. Their expansion in Peru intensified in 2019 with the launch of the Betsafe brand. Two years later, Betsson took a significant step by acquiring Inkabet, a locally-licensed online sports betting and gaming brand, for $25 million. This acquisition further solidified Betsson’s foothold in the Peruvian market, which has seen a wave of regulatory changes this year.
Earlier in 2023, Peru introduced comprehensive regulations for online gaming and sports betting, necessitating all operators to obtain full licence approvals to continue operations. The legislative change came into effect on February 9 with Law no 31557, marking a pivotal moment in the regulation of the burgeoning Peruvian gaming market. By March 10, operators had to submit their licence applications to comply with the new legal framework. Peru’s Ministry of Foreign Trade and Tourism reported receiving a total of 145 licence requests from both national and international operators eager to continue or commence operations in the country.
Pontus Lindwall, President and CEO of Betsson, expressed his enthusiasm for the new regulatory environment in Peru. “We have really looked forward to Peru introducing a local regulation and are very pleased with the issuing of these licenses,” said Lindwall. “With this announcement, we affirm our commitment to the local economy and the new regulatory framework in the country.”
Betsson’s commitment to the Latin American market, however, extends beyond Peru. The company operates in several other Latam countries, including Colombia and Argentina. In Argentina, Betsson holds licences in Buenos Aires City and Córdoba, further highlighting its strategic expansion in regulated markets across the region.
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Beyond Latin America, Betsson has been actively expanding its global footprint. In recent months, the company announced several new market launches. In March, Betsson introduced its flagship brand to the Italian market, a country where it already has a significant presence through the StarCasinò brand. The introduction of the Betsson brand is expected to complement and strengthen its existing operations in Italy.
Furthermore, Betsson has made strategic moves in Europe. Last year, Betsson expanded into the Belgian market by launching an online casino through Betfirst, a company acquired by Betsson. This venture was accomplished in partnership with Groupe Partouche-owned Middelkerke Casino, enhancing Betsson’s portfolio in a highly competitive European market. In France, another key market, Betsson successfully obtained a sports betting licence last year, allowing it to further diversify its revenue streams. Additionally, Betsson secured an online casino licence in Serbia, marking yet another expansion of its services in the European gaming landscape.
However, not all has been smooth sailing for Betsson. In April, the operator faced regulatory challenges in the Dominican Republic, where it was among 40 operators blacklisted ahead of the market’s preparation for re-regulation. Other notable operators, such as Betway, Interwetten, Betfair Colombia, Bet365, Mr Green Casino, 888Sport, and William Hill, were also flagged in this regulatory sweep. Despite this setback, Betsson continues to pursue new opportunities and expand its reach across different regulated markets.
Betsson’s strategic expansions and regulatory challenges underscore the complexities and dynamic nature of the global betting and gaming industry. The company’s continued growth in multiple markets reflects its adaptive strategies and commitment to operating within regulated environments. As Betsson solidifies its position in Peru with newly acquired licences and awaits further approvals for its Inkabet brand, it remains a vigilant player on the global stage, ready to navigate the evolving regulatory landscapes and embrace new market opportunities.
