Swedish Operators Eye US As Nordic Competition Grows

Swedish online gambling companies are looking stateside and dumping assets as competition in the Nordic countries intensifies.

Stockholm-listed Kindred Group and Betsson reported fourth-quarter declines in earnings before interest, tax, depreciation and amortisation (EBITDA), as they were squeezed by tax and heavy competition in Sweden, and a regulatory crackdown in Norway.

Kindred was also hurt by US start-up costs, which cost it £6m in fourth-quarter EBITDA.

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