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Betsson Settles Dispute with Nordic Gaming Group

Two years after it agreed to purchase the Nordic Gaming Group, online betting firm Betsson has settled a dispute as to the payout received by Nordic Gaming's former owners.

Betsson reported that it has settled the matter with Nordic Gaming Group for €15.45 million, less than the initial €20 million that was previously disputed.

Commenting on the matter a Betsson statement revealed: "This [settlement] agreement means that Betsson will have a cash flow impact of SEK -147.1 million, but also that Betsson will have a positive profit impact amounting to approximately SEK 40 million in the fourth quarter of 2014."

"According to Betsson's dividend policy, 75 percent of earnings is transferred annually to shareholders through an automatic redemption process. The positive profit effect will not be included in the calculation of net distributions to shareholders."

"Furthermore, there is no reason for revaluation of the goodwill recorded on the acquisition of NGG."

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