Legal Proceedings Report • Dec 21, 2009
Legal Proceedings Report
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Press release
Betsson AB (Publ)
Betsson is forced to close its betting shop as a consequence of the Administrative Court of Appeal's ruling the 7th of December. Unless the operation is shut down Betsson will get fined €250.000. Therefore the shop will close the 22nd of December at 11.00 AM, after 1.5 years of operation.
Currently Betsson is given no alternative than to close down the betting shop as the court's ruling imply that Betsson will be fined regardless of an appeal. According to the Swedish Lottery Inspection the operation of the betting shop violates the Swedish Lottery law. Betsson on the other hand, argues the case of the Swedish Lottery Law is not compliant to the EC-law, thereby the law itself is illegal.
The EC-court has previously stated that a member state which actively through marketing encourage gambling through state owed gambling companies, cannot exclude private betting companies from the market. In November 2009 Betsson was awarded "Socially Responsible Operator of the Year", by the gambling industry's Oscar awards, the EGR awards.
According to Betsson's management, he closure of the shop will have insignificant effect on the income statement,
Media is invited to Pontus Lindwall's official closure of the shop at 11.00 am, Götgatan 37, Tuesday the 22nd of December.
For pictures of the shop, visit www.betssonab.com media gallery.
For more information please contact: Pontus Lindwall, President and CEO, Tel: +46 (08) 556 967 10, +46 (0) 708 27 51 55, [email protected]
BETSSON AB´S CORE BUSINESS CONSISTS OF INVESTING AND ADMINISTER COMPANIES WITHIN THE GAMING BUSINESS. BETSSON AB OWNS BETSSON MALTA WHICH OPERATES GAMES TOWARDS END CUSTOMERS, VIA THE WEBSITES WWW.BETSSON.COM, WWW.CASINOEURO.COM AND WWW.CHERRYCASINO.COM. BETSSON MALTA OFFERS POKER, CASINO, BETTING EXCHANGE, SPORTS BETTING, LOTTERY, BINGO, GAMES AND BETSSON TRADER. THE CUSTOMERS MAINLY ORIGINATE FROM THE SCANDINAVIAN COUNTRIES AND OTHER PARTS OF EUROPE. BETSSON AB IS LISTED ON NASDAQ OMX NORDIC MID CAP LIST, (BETS).
| MAIL AND VISITING | PHONE | REGISTERED OFFICE | ORG. NO. | |
|---|---|---|---|---|
| ADDRESS | FAX | IR WEBB SITE | VAT.REG.NO. | |
| BETSSON AB (PUBL) | +46 (0)8 506 403 00 | STOCKHOLM | [email protected] | 556090-4251 |
| REGERINGSGATAN 30-32, | +46 (0)8 735 57 44 | WWW.BETSSONAB.COM | SE556090425101 | |
| 111 53 STOCKHOLM, | ||||
| SVERIGE |
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