A subsidiary of Betsson AB has obtained its first local licenses for the newly regulated market in Peru. The permits cover online casino and sports betting for the Betsson and Betsafe brands. Further, licenses for the Inkabet brand are expected to be obtained soon.
Betsson, which began its Latin American venture in 2008, has since positioned itself as a recognized sports betting brand in Peru. In 2019, the group launched its Betsafe brand in the country, and two years later Inkabet, a Peruvian-facing sports betting and online casino business, was acquired.
Besides the new licenses, the group holds licenses in two other markets in the region, Colombia and Argentina. In Argentina, Betsson holds licenses in Buenos Aires City, Buenos Aires province, and Córdoba.
Commenting on this milestone for Peru, Pontus Lindwall, President and CEO of Betsson AB, said: “We have really looked forward to Peru introducing a local regulation and are very pleased with the issuing of these licenses. With this announcement, we affirm our commitment to the local economy and the new regulatory framework in the country.”
In April, the company shared its first-quarter results. During the period, the company reported a 12% revenue increase, reaching €248.2 million ($265.8 million), with a 25% growth organically. According to the Swedish firm, the quarter was characterized by “a continued positive development with high customer activity, good growth, and strengthened profitability, as well as new growth-oriented initiatives.”