Unibet settles with The Lotto

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UnibetSports bookmaker Unibet and the Lotto have ended years of legal wrangling with a settlement in which Unibet will make a one off payment of £1.15 million to charities the Lotto supports, as declared in the Malta-based gambling company's annual results.

Unibet and Lotto have been fighting a legal battle for many years in which the Lotto tried to banish Unibet from the Dutch market. The settlement, ends all legal procedures between the two organizations.

The Lotto, which has been in talks about a possible merger with the National Lottery, is the only licensed provider of sports betting in the Netherlands until the end of this year. The Dutch government plans to modernize the gaming policy in 2015 and to allow foreign companies to compete for such licenses .

Unibet, which is listed on the Swedish stock exchange, could see record figures for the whole of 2013. Its turnover increased to £234.7 million on which the online gambling company made a net profit of £40.1 million.

Unibet, which is reportedly one of the companies that will apply for a license to operate in the Dutch gambling market in 2015, had more than 516,000 active users by the end of the year. Betting via mobile phones is seen as a booming market as Unibet recorded 27 % of its sales in the fourth quarter from this platform.

Visit the Unibet website here.
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