Betsson: Ontario expansion in line with North American growth strategy
Betsson stands poised to initiate the latest stage of the group’s North American expansion strategy after being granted licences to launch in the regulated Ontarian market.
In addition to the online sports betting and igaming operator receiving certification, Betsson has also debuted a B2C offering the province courtesy of the group’s Betsafe brand.
“Ontario, home to almost 40 percent of Canada’s 38 million inhabitants, is economically the most important province of the country and the online gaming market in the province is widely expected to become one of the largest in North America,” the group noted.
The company’s products will run via the platform of Strive Gaming, which is 40 per cent co-owned by Betsson, with the firm’s offering having been localised in a bid to deliver a North American player experience.
Furthermore, Betsson has also received a supplier licence, which enables the group to offer its sportsbook product on a B2B basis.
Pontus Lindwall, President and CEO of Betsson, said: “We are pleased to obtain the necessary licences to operate with both a B2C and B2B offering in the locally regulated online gaming market in Ontario.
“We are convinced that there are great opportunities for Betsson in Ontario in both the B2C and B2B channels as we bring a highly competitive offering to the market.”
Last month, Betsson reflected on “one of the largest sporting events ever” that it said “contributed to new records for all possible key performance indicators in the quarter,” after publishing the group’s Q4 and full-year performance.
This saw the company record a 40 per cent revenue increase through the former to €220.6m (2021: €157.5m), which helped nudge the figure across the year to €777.2m, up 18 per cent year-on-year from €657.7m.