Novamedia, which operates the Postcode Lottery in the country, said that the gaming market in the Netherlands is “subsequently and rightfully” becoming more regulated.
However, the operator said that it no longer saw opportunities for development in the market.
“This part of the sector is subject to discussion and is subsequently and rightfully so getting more tightly regulated, which makes it unfit to raise funds,” read a statement on the operator’s website.
“Novamedia has therefore decided to continue exploring opportunities for innovation from within its safe lotteries themselves and, for the time being, to make no further investment in the opportunities that online gaming could offer in the Netherlands.”
Novamedia added that it would look for similar opportunities in other markets.
“The organisation will also continue to focus on opportunities for new lottery licences to raise more funds for good causes in new markets.”
Novamedia obtained an online gaming licence from the Netherlands’ gaming operator Kansspelautoriteit in October 2022, under the name Novamedia Gaming BV.
Stricter environment
Novamedia’s decision to withdraw from the market is likely due to a number of specific regulatory measures the Netherlands has implemented recently. The country is set to put a ban on broadcast advertising into effect “no later” than 1 July this year, a move that prohibits all forms of “untargeted” advertising.
Last week, Dutch minister for legal protection Franc Weerwind said that the aim of the ban was to prevent gambling advertising from being viewed by children.
Original article: https://igamingbusiness.com/legal-compliance/licensing/novamedia-exits-nl-market-cites-unfit-environment/
