Ladbrokes Exits More European Markets Due To Legal Issues
The legal status of online gambling in many parts of the globe has led to many operators being forced to withdraw from problematic markets. The UK’s second largest bookmaker Ladbrokes is a good example of this.
Last year following a regulatory operational review Ladbrokes withdrew from Hungary, Norway and Switzerland which followed their withdrawal from Canada a month earlier. In a statement Ladbrokes announced that they will be withdrawing from Finland, Romania, Portugal and Russia as there are legal restrictions from UK and European online gambling legislation. This makes it problematic to operate unhindered in these countries.
These four countries are all in the process of reviewing their online gambling legislation with countries like Russia seemingly making progress towards broader legalization. Countries like Romania and Portugal are expected to layout their new online gambling regulatory structures this year and Ladbrokes did not rule out the possibility of re-entering these regions when the legal issues are clearer.