Issuing a short market statement, the leadership of European online gambling firm ComeOn has confirmed that it has withdrawn all active brands from the UK online gambling marketplace.
Updating stakeholders, ComeOn Chief Executive Lahcene Merzoug confirms that the flagship ComeOn.com domain, along with subsidiaries mobilebet.com and getlucky.com will withdraw from the UK, choosing to ‘focus on more favourable markets.
2019 trading has seen all UK online gambling incumbents, adjust to new stricter enforcements on customer KYCs and care-of-duty procedures enforced by the UK Gambling Commission (UKGC).
Lahcene Merzoug commented on the update – “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.”
A leading online casino operator with Nordic Markets, ComeOn has operated as a UKGC licensed incumbent since 2014.
In 2017, ComeOn would be acquired outright by Swedish investor Cherry AB, transforming the operator into its lead B2C vertical. Nevertheless, a tough integration of assets would see Cherry undertake a restructuring of operations during the course of 2018.
Under the guidance of Cherry AB, a reformed ComeOn has moved to recently launch new ‘instant-play’ online casino properties Blitzino (Germany) and Hajper (Sweden), as the company explores further opportunities within Denmark and Poland.
“At the same time, the UK-license has lost its 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” Merzoug adds closing ComeOn’s statement.
Source: Sbc News