Swedish-headquartered Betsson has terminated its agreement to acquire Holland Gaming Technology and Holland Power Gaming, opting to pursue other business opportunities instead.
In February 2024, Betsson had agreed to buy the Netherlands-licensed operator Holland Gaming and the game studio Holland Power Gaming for €27.5 million ($31.4 million).
The completion of this dual acquisition was reliant on the approval from the Dutch gambling regulator, Kansspelautoriteit (KSA). Betsson withdrew from the deal as KSA did not issue a decision by the agreed long-stop date.
As a result, the initial purchase amount, minus the break fee, amounting to €26.7 million will be returned to Betsson. The company stated that this reversal will not significantly impact its consolidated income statement.
### Does Betsson have a future in the Netherlands?
This acquisition was intended as Betsson’s re-entry into the regulated Dutch market. Under the terms of the agreement, Holland Power Gaming would have continued to supply games exclusively to Holland Gaming Technology.
Betsson was also seeking its own license in the Netherlands but retracted its application in July 2023, citing “significant delays” in the licensing process as the key reason.
Betsson was previously active in the Dutch market but ceased operations in September 2021—a day prior to the launch of the Dutch regulated iGaming market. The company hoped that its departure would ease a future legal re-entry. Nonetheless, operating iGaming without a license can lead to disciplinary measures that may hinder future legal operations.
Furthermore, in March, Betsson was ordered by the Rotterdam District Court to repay over €500,000 to a customer who lost money while gambling on sites unlicensed in 2014, a period when iGaming was illegal in the Netherlands.
With the cancellation of the acquisition, Betsson will reclaim €26.7 million.