Cherry AB-owned ComeOn has revealed that holding a UK licence “has lost its symbolic value” in recent years, after confirming that it will be withdrawing from the UK market.
The gambling operator, which has been operating under a UK licence since 2014 via its ComeOn, Mobile Bet and Get Lucky brands, will exit the market “to focus on more favourable markets”.
Currently, ComeOn holds operator licences in Sweden, Denmark, Malta and Schleswig-Holstein as well as a sports betting licence in Poland, and emphasised that the UK “has never been a big market” for the ComeOn brand.
Lahcene Merzoug, CEO at ComeOn, explained: “The UK is a very mature and highly competitive market and the financial risks are big. We have never had a non compliance breach, but we’ve sean competitors being fined big numbers and that creates uncertainty.
“At the same time the UK-licence has lost it’s symbolic value. Before you almost had to have one to be looked upon as a credible company. Today we hold licences in many european countries and given that the UK has never been a big market for us, it’s a wise move to put our focus elsewhere.”
The operator has been placing a focus upon further European expansion in the early months of this year, having already secured a Danish licence in July, as well as a Finnish licence for its Galaksino brand.
Under the Danish licence, ComeOn will be able to operate its casino and sportsbook products, with the five year issuance representing the maximum length available by the Danish Gambling Authority.