Stand Made Clear By Swedish Gambling Group

Betsson, The Swedish betting group recently restructured from the Cherry Fortragen group, has released a statement making its position on the latest United States anti-gambling legislation clear, as the United States continues its attempt to block financial transactions with online gambling sites.

Betsson explains in the statement that its operations function within two autonomous business areas. The two areas include Net Entertainment, described as providing system and software solutions for online gambling, and Betsson Online, which makes online gaming available to Internet gamblers.

The company declares that less than 8 percent of its income is derived from United States players, and that that Betsson Online receives a meager 3 percent of its income from United States residents online. The two major brands held by the company, - Betsson.com and CasinoEuro.com – some time ago stopped accepting wagers from U.S. residents.

it is their position that if the above mentioned bill is put into effect, it will not significantly affect the company’s business. It was decided before by the company board that all shares linked to the business area Net Entertainment are to be distributed to Betsson's shareholders.

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