Betsson’s Dutch subsidiary to pay €300,000 fine

Corona Ltd, the Dutch subsidiary of well-known iGaming brand Betsson, is obliged to pay a hefty fine of €300,000 in response to their absence of a local Dutch license. The operator was not discouraged, however, to offer gambling services to the Dutch market, which of course resulted to the chunky monetary punishment by the Netherlands Gaming Authority, De Kansspelautoriteit (KSA). Corona owns and runs brands like Oranje and Kroon and has announced that it is currently assessing the situation and the appropriate way to deal with it, contemplating whether they will appeal to the decision or not.

The lower house of the Dutch Parliament gave the Remote Gaming Bill a green light two years ago, but the bill hasn't passed the Senate yet. As a result Corona Ltd was not legal in offering services to the Dutch market. This year's developments with regards to the legislation framework saw government representatives announcing their will to introduce the new bill by 2020. Betsson stated on the media that the KSA also conducted investigations on other subsidiaries they own. where ultimately, the regulator didn't find any other law breaches.

Betsson CEO Pontus Lindwall respected KSA's verdict and agreed that Dutch customers should be able to play in a safe and regulated environment. Mr Lindwall appeared very optimistic last month in publicizing the the operator's interim results for 2018, after taking on the group's leadership from Ulrik Bengtsson. The program puts emphasis on core areas such as operational efficiency, product output and growth in important markets.

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BOOK SPY

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