Betsson Terminates NetPlay, UK Gaming Subsidiary

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December 15th, 2018
Back Betsson Terminates NetPlay, UK Gaming Subsidiary

The Stockholm-based company that offers numerous gambling products, including casino, poker, bingo, sports betting and instants, Betsson AB, has decided to shut down one of its subsidiaries in the United Kingdom with interactive broadcast solutions – NetPlay.

The parent company that operates more than 20 brands under its network, such as Betsson, Betsafe and NordicBet is formulating new strategies for the market in 2019, and renewing the TV contracts with ITV and Channel 5 does not befall under these terms.

As a result, NetPlay’s entire management and operations will be transferred to the company’s offices in Malta. Around 40 employees will have to either move or find new jobs, the report reads.

Brand Focusing On Digital

During 2017, when Betsson acquired NetPlay, a lot of top-performing casinos were added to the queue – Jackpot247, Supercasino, and Vernons. Group chief commercial officer, Ronni Hartvig, comments:

“Betsson acquired NetPlay in early 2017 and through that acquisition we expanded our multi-brand portfolio. As part of that acquisition, we took over the TV agreements which were in place with Channel5 and ITV.

We have decided not to renew those TV contracts as we instead will apply a more digital-focused strategy for those brands.”

Tumultuous Year At Betsson

Whether the company’s decision to shut down one of its key brands in the UK is tied to BREXIT remains unknown, but the concern was heavily shaken in September, when both CFO, Kaaren Hilsen and her colleague, CEO, Ulrik Bengtsson, left offices almost overnight...

...to work for William Hill!

While Hilsen stepped down to join Swedish telecoms firm Telenor as CEO, Bengtsson departed without stating a proper reason. Pontus Lindwall said on the occasion, as he immediately replaced the outgoing executive:

“Ulrik Bengtsson has done a good job for Betsson during the five years he has been employed by the group. He has clarified the strategy and implemented significant product launches. On behalf of the board and myself, I would like to thank Ulrik for his efforts.”

NetPlay Contract Expires Next Year

The corporate update on Betsson’s official site states that the contract with NetPlay expires end of next year. Until then, brands will be operated from the UK. However, as soon as this period is over, operations will be moved to Malta. Hartvig also adds the following:

“All employees have been informed about these plans, and in total it affects around 40 employees in the UK office. The affected employees will remain in employment throughout the duration of 2019, and where possible we offer employees alternative employment and relocation to Malta.”

The Swedish betting company also entered into two important agreements this year; in May, the group signed a supply deal with Yggdrasil, while in October 2018, the aggregator expanded its portfolio by adding content from Microgaming.

Source:

“Betsson shuts down UK subsidiary, plans new strategies”, Niji Ng, europeangaming.eu, December 13, 2018.

“Betsson AB, has decided to shut down one of its subsidiaries”

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