ComeOn, operator owned by Cherry AB, has confirmed, after much speculation, that they will be leaving the regulated market of the United Kingdom, claiming that UK license has “lost its symbolic value” in recent times.
They have been holding the said license since 2014. Their ComeOn, Mobile Bet and Get Lucky brands that have been a staple of their UK offering will be focusing on “more favorable markets” moving forward.
Is UK Overrated?
Sweden, Denmark, Malta and Schleswig-Holstein...
...these are key jurisdictions in which the operator also holds a gaming license, in addition to a sports betting permit issued to them in Poland.
In addition to dismissing the value of the UK license, the brand has also said that this particular market was never a priority for them.
The company's CEO, Lachene Merzoug, says:
“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 seen 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 licenses 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.”
AI-Infused Responsible Gambling
Securing of Danish license in July and, soon afterwards, the Finnish one...
...confirmed their course of action that was taken early this year and which practically set them on course for European expansion. ComeOn will be operating a casino and a sportsbook in Denmark with this country's license. The Danish Gambling Authority issues licenses for a duration of five years.
In August, the brand srolled-out their new product developed jointly with Neccton, data science specialist...
...namely, the new responsible gambling tool that utilizes artificial intelligence to ensure maximum efficiency.
The new tool will be assisting players to identify and avoid problematic behaviour by tracking player data and detecting risk patterns based on those.
Responsible gambling manager at ComeOn, Helena Berg, said that “providing the right conditions and incentives for players to gamble responsibly is part of how we take care of our customers.”
UKGC Discusses Responsible Gambling As Well
UKGC has advised against the immediate release of unified responsible gambling system GamStop...
...amid concerns that the tool is not quite ready to be released and implemented by all licensed operators in the country. One of the things UKGC wishes to introduce is to GamStop to become a mandatory condition for getting the license in this country.
Regulator's statement said that...
...”the scheme has not yet reached the point where we are satisfied to trigger the requirement for all operators to become members. We will continue to support GamStop’s work to ensure the further developments and improvements are made.’’
Source:
ComeOn to withdraw from UK market, igamingbusiness.com, September 2, 2019.
coolsongss
5 years ago
Hero Member
Well, Cherry AB just sound like they have been earning money from UKGC, but the amount wasn't big. So once they get fines, then, it will blow all the profits, so they just want to focus on other market. Not a bad excuse. I hope that other European markets will put a strong measure like UKGC in the near future :)
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VlagreDis
5 years ago
Newbie
Hm, I don't know if that's quite right, I think there is still prestige about being licensed in the UK.
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