Betsson

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Betsson AB (publ)
Trading name OMXBETS B
Type Publicly traded (Aktiebolag)
Industry Online gambling
(Holding company)
Founded Sweden (December 3, 1963 (1963-12-03))
Founders Bill Lindwall and Rolf Lundström
Headquarters Stockholm, Sweden
Key people
Brands betsson.com
betsafe.com
casinoeuro.com
cherrycasino.com, and more
Revenue SEK 2,476.7 M
Operating income SEK 601.1 M
Employees 839 (541 based in Malta)
Subsidiaries BML Group Ltd
Betsson Malta Ltd
Website betssonab.com
Footnotes / references
Annual Report 2013[1]
Solid Media Group[2]

Betsson is a Swedish company that offers a number of online gambling products, such as casino, poker, bingo, sports betting and scratch cards through several wholly owned Malta-based subsidiaries, like BML Group Ltd and Betsson Malta Ltd. Betsson AB is listed on the NASDAQ OMX Nordic Mid Cap.[1][3][4]

Corporate history[edit]

Betsson was founded by the Swedish entrepreneurs Henrik Bergquist, Anders Holmgren and Fredrik Sidfalk in the year 2000.[5][6] However, the current iteration of the company can trace its roots back to 1963, and the foundation of AB Restaurang Rouletter by Bill Lindwall and Rolf Lundström, later renamed Cherryföretagen AB (Cherry), which provided slot machines to restaurants in Sweden. Cherry acquired a minority share of Net Entertainment in 1998, which was a company co-founded with Investment AB Kinnevik, tasked with developing online gaming solutions. The rest of the shares in Net Entertainment held by Kinnevik was acquired by Cherry in 2000, making Kinnevik the largest shareholder of Cherry in the process. In 2003, after the return of Pontus Lindwall (son of Bill Lindwall), as the CEO of Cherry, the company buys into Betsson, which had a gaming licence in England at that time, and later acquires a license in Malta. In 2006, Cherryföretagen changes its name to Betsson and the traditional gaming operation in the business sector of Cherry merges into a new group, Cherryföretagen, which later shortens the name back to Cherry and launches its own online sector based in Malta.[7] Magnus Silfverberg stepped up as CEO of Betsson in 2011, and took over after Pontus Lindwall, who has stayed on as chairman of the board.[8][9][10][2]

Products[edit]

Betsson.com was one of the first sites in the world to offer live betting on sports events online in 2002, and online casino was launched the same year. In 2004 the company launched online poker with the supplier Ongame, and in 2005 the company started offering mobile gaming solutions, powered by a Java application. In 2006 Betsson's fifth product, the scratch card Trio, was launched. In 2007, bingo was launched on the Swedish market, and live betting was launched in the sportsbook. In 2007, financial betting was launched under the name Betsson Trader.[citation needed] Betsson AB owns and operates the following websites via its subsidiaries in Malta:[1][11]

Betting shop[edit]

In May 2008, Betsson opened a betting shop in Stockholm. The Swedish Gambling Authority ruled that the shop’s operations were in conflict with the Lotteries Act and demanded that the shop should stop promoting gaming activities. This decision was appealed by Betsson on several occasions and in December 2009 the Administrative Court of Appeal announced its decision that the shop should cease promoting gaming activities. However, after a further appeal, the Supreme Administrative Court announced that they had accepted Betsson’s claim for suspension of implementation, which in effect implied that Betsson, once again, had the right to undertake operations whilst waiting for a final decision. The shop was reopened in January 2010 but was again closed in September 2010 when the court announced that they would not grant leave to appeal. On 22 December 2010, the shop opened for the third time, now in compliance with the Gambling Authority’s injunction from 2008, which means that none of Betsson’s marketing designs or logotypes can be displayed in the shop.

Business acquisitions[edit]

In 2012, Betsson acquired the competitor Nordic Gaming Group and in 2013 they acquired the Automaten brands: SverigeAutomaten, NorgesAutomaten och DanmarksAutomaten, which thereby went from being a part of the business area B2B to become B2C brands. The company migrated its subsidiaries to the common platform Techsson.[citation needed]

Betsafe[edit]

In 2011 the company acquired all of the shares in the Betsafe Group for SEK 292 M. The aim of the acquisition was to increase Betsson's market presence and enable continued growth. The acquisition grew Betsson's number of customers to approximately 419,000 — surpassing Unibet in the number of active players. That same year Betsson signed an agreement with a Chinese state-owned company regarding the development of joint-owned gaming operations.[12][13]

References[edit]

  1. ^ a b c "2013 Annual Report". Betsson AB. Retrieved 5 August 2014. 
  2. ^ a b "BETSSON AB - Grunddata" (in Swedish). Solid Info. Retrieved 5 August 2014. Registrering och aktivering: Bildat 1963-12-02 BV, Namn registrerat 2006-06-13 BV 
  3. ^ "Koncernstruktur - Betsson AB". Solid Info. Retrieved 5 August 2014. 
  4. ^ "About Us". Betsson. Retrieved 5 August 2014. 
  5. ^ "Betsson-grundare blir mångmiljonärer" (in Sweden). Internet world. Retrieved 5 August 2014. 
  6. ^ "Cherry årsredovisning 2005" (in Sweden). Cherryföretagen AB (publ). p. 10. Retrieved 5 August 2014. 
  7. ^ http://dev.cherry.se/en/cherrys-history/
  8. ^ "History". Betsson. Retrieved 5 August 2014. 
  9. ^ "Betsson - superaktien som stigit över 11 000 procent" (in Swedish). Svenska Dagbladet. Retrieved 5 August 2014. 
  10. ^ "Tar hem spelet" (in Swedish). Affärsvärlden. Retrieved 5 August 2014. 
  11. ^ "Om Betsson" (in Swedish). Betsson AB. Retrieved 5 August 2014. 
  12. ^ "Annual Report 2011". Betsson AB. Retrieved 5 August 2014. 
  13. ^ "Betsson i ledande roll" (in Swedish). Dagens Nyheter. Retrieved 5 August 2014. 

External links[edit]