De Kansspelautoriteit hits Corona with €300,000 penalty

De Kansspelautoriteit hits Corona with €300,000 penalty

Friday, August 24, 2018 Posted by Craig Davies
No alternative text provided
Betsson subsidiary guilty of unlicensed operations

Betsson Group has revealed that its Corona Ltd subsidiary has been penalised by De Kansspelautoriteit (KSA), the Dutch gaming regulator, for making its offering available to players within the country without a local licence.

Corona, who operates the Oranje and Kroon online casino brands, was fined to the tune of €300,000 for the infractions, and is currently assessing the judgement and whether or not to appeal the decision laid down.

Online gambling group Betsson also details that other entities belonging to it were the subjects of further KSA investigations, but the gaming authority “established that there were no violations with regard to them and no fines were imposed”.

Pontus Lindwall, chief executive officer of Betsson AB, who regained control of the organisation in september of 2017 from previous incumbent Ulrik Bengtsson, has recently stressed that “confidence is back” following a tricky year of trading.

Regarding the Dutch ruling Lindwall, who reported casino revenues exceeded SEK 1 billion for the first time ever in Betsson’s recent interim results, explained: “Betsson shares KSA’s ambition to achieve a high channelisation of customers into any future locally regulated environment in the Netherlands and supports the Dutch Government’s ambition in moving forward with the legislative process.”

The lower house of the Dutch parliament approved the progression of the country’s remote gaming bill two years ago, since which Senate has not given it it’s seal of approval.

Earlier this year, officials of the Netherlands government stated that its coalition intended to resume this legislative process, and had its sights firmly set on introducing the new regulation by 2020.

Detailing its own processes within the market until this point, Betsson states that its 2014 acquisition of Corona was done so “in anticipation of the re-regulation of the Dutch online gaming market, which according to public information was due to occur in 2015”.  

Totally Gaming says: The stance taken by De Kansspelautoriteit is hardly a surprise for a number reasons, but especially so when you consider the hardline stance that the KSA was adopting for the World Cup not so long ago. Here it was stated that monitoring of remote betting operators’ marketing and advertising practices was be strictly enforced, with unlicensed betting firms thought to be illegally targeting its consumers set to be heavily fined. A fate that has befallen Betsson in this very instance.

Latest
Finance

JPJ Group sees Jackpotjoy decline offset by Vera&John growth in Q3

Money

Stride Gaming subsidiary hit with £7.1m UKGC penalty

France

Stellar showing from sports betting drives French market growth

Casino

Swiss Casinos selects Playtech for online launch

Gaming Products & Services Directory

The essential directory for the gaming industry