Betsson obtains licences for multiple brands to enter Peru market
The licences cover both igaming and sports betting as Betsson moves ahead with Latam expansion, with Inkabet due to be authorised in the coming months.
Betsson has obtained sports betting and igaming licences for the newly regulated Peruvian market.
As well as licences for the Betsson and Betsafe brands, the company also expects to obtain approval for its Inkabet sportsbook.
Betsson acquired Inkabet for $25m in August 2021 as it looked to make further inroads on the continent.
The Peru market represents Betsson’s latest venture into the newly regulating Latam space, as the company already holds licences for several Argentine provinces and Colombia.
Betsson recorded a 3.3% decrease in revenue in Latam for Q1 2024, with low sports betting margins and currency issues in Argentina cited as contributing factors.
Peru initially announced plans to legalise igaming in the country in October 2023, with the market opening for applications from operators in February 2024.
Speaking about the Peru expansion, Pontus Lindwall, president and CEO of Betsson, said: “We have really looked forward to Peru introducing a local regulation and are very pleased with the issuing of these licences.
“With this announcement, we affirm our commitment to the local economy and the new regulatory framework in the country.”
Earlier this month, Betsson appointed former William Hill chief product officer (CPO) David Fuke as the company’s new director of product – six years after he left the company to join the London-based firm.