Betsson Closes Betsafe's Danish Site

Gaming firm Betsson has announced that they've closed the Danish-facing website of its Betsafe brand ahead of the country's higher taxes on betting revenues.

The Betsafe.dk domain was closed in order to offset the tax increase, but Betsson will maintain their other brands within the market. The Danish government voted in December to up the current tax rates on gross gaming revenues from 20% to 28%, which will come into effect in January 2021. The move puts online operators in line with land casinos, which have been paying higher rates for many years.

While Betsafe's Danish domain is closing, the Betsson brand NordicBet will remain open, having been successful since it launched late in 2019.

News of the closure saw Betsson stock fall about SEK1 before turning around and finishing up at SEK43.60.

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Betsafe CasinoMalta, Sweden, U.K.

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