Betsson AB CEO: We’re not late to the party in US
Pontus Lindwall says the firm has entered the market expecting huge US opportunities in future
Betsson AB CEO Pontus Lindwall believes the operator has entered the US at the right time via its 10-year market-access deal to operate mobile betting in Colorado.
Lindwall told investors during the firm’s Q2 results it was “not late to the party” and had entered the US during a time when it had “full control of the situation.”
He hinted at the firm taking a cautious approach to expanding into new states, but expects there to be major business opportunities when more states open up.
“We can’t go into every state tomorrow, but we will start out in Colorado and have time to adopt other markets that we deem fit for our sportsbook,” Lindwall said.
“There are a lot of states that have not yet implemented any regulation and there will be a lot of possible business opportunities there.”
The Colorado B2C deal will act as a prerequisite to the operator launching its B2B sportsbook platform in the US.
“The initiative gives Betsson an opportunity to showcase its sportsbook in the US market, supporting the ambition to sell its proprietary sportsbook to business-to-business (B2B) customers in the future,” Lindwall added.
He confirmed the operator would invest in the B2B product as it seeks to expand into new markets, and he believes it is a “highly competitive and high performing” piece of technology.
In Q4 2019 the firm reported higher personnel costs as it hired new staffers to work on enhancing the B2B platform.
It currently provides its sportsbook technology and trading services to Asia-focused brand LeTou.