Betsson pulls plug on Dutch Goldrun deal after regulatory holdup
Betsson has officially walked away from its planned acquisition of Holland Gaming Technology Ltd and Holland Power Gaming B.V., the duo behind Goldrun Casino. The Stockholm-listed operator confirmed the termination on 2 June, citing delays in regulatory approval from the Dutch Kansspelautoriteit (KSA).
The move puts the brakes on Betsson’s intended return to the Dutch online market, a key part of its post-2022 strategy following the withdrawal of legacy brands Kroon and Oranje Casino.
A deal stuck in limbo
Originally announced in February 2024, the €27.5 million deal was intended to give Betsson a shortcut back into the Netherlands via an already-licensed operator and exclusive content supplier.
But the whole thing hinged on the KSA giving the green light. That approval never came. With the agreed deadline now passed and no decision in sight, Betsson opted to back out. The company will get €26.7 million of its money back, while the remaining €800,000 will be kept as a break fee, a negligible financial hit for Betsson.
Dutch market getting tougher
The scrapped deal isn’t just a bump in Betsson’s M&A roadmap, it reflects wider headwinds in the Netherlands. The KSA has become increasingly strict, tax hikes have made margins tighter, and operators are starting to feel the squeeze.
In January 2025, the gambling tax jumped from 30.5% to 34.2% of GGR, with another hike to 37.8% planned for 2026. Some operators, like Tombola and LiveScore Group, have already called time on the Dutch market, saying it’s no longer commercially sustainable.
The KSA hasn’t given a reason for the holdup, just that the review is still underway. Meanwhile, there’s already talk in political circles about scrapping the Remote Gambling Act (KOA) altogether and replacing it with stricter rules, possibly before the year ends.
State Secretary for Legal Protection, Teun Struycken, has already publicly announced a “fundamental change of course in gambling policy,” citing the “worrying results” of recent evaluations of the KOA regime.
Struycken stated that a new gambling bill will be proposed to the House of Representatives (Kamer) by the end of 2025, with a focus on stricter protections, higher age limits, and tighter advertising restrictions. This move is in direct response to findings that the current KOA framework does not sufficiently protect citizens, especially minors and young adults, from gambling-related harm.
What’s next for Betsson
This development won’t throw Betsson off its wider plans. The group is still growing in other regions, with recent moves in places like Italy, Greece, and Georgia. Regulated markets remain the focus, but the Netherlands is no longer part of the picture at the moment.
Betsson’s Dutch deal may have fallen through, but it’s hardly an isolated case. Operators across newly regulated markets are running into the same roadblocks, tighter rules, tax hikes, and long waits for licences. It seems that no matter how solid the business case, nothing moves without the regulator’s approval. However, if things get any tighter, there might not be much left to regulate.
