Ladbrokes Leaves Three More Countries

Sun, Oct 19, 2014

Ladbrokes intends to withdraw from Switzerland, Norway and Hungary. The withdrawals come before the introduction of new licensing conditions in the UK. The company has already exited the Canadian market.

Ladbrokes is pulling out of Switzerland, Norway and Hungary before the introduction of new licensing conditions in the UK.

Ladbrokes has also withdrawn from Canada.

The firm says it decided to exit the markets in order to conduct legal and regulatory reviews of iGaming frameworks in Europe.

A of October 1, customers in the three European counties could no longer bet or deposit funds in their accounts, but will be able to withdraw any remaining funds for one month.

Under new UK regulations, companies seeking to take bets from customers in the UK must obtain a new license. Operators must disclose financial information about international markets that generate more than 3 percent of their total revenue under the new rules.

The new rules take effect November 1.

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