Betsson has announced it is to consolidate its UK business into one brand, by handing back three of the group’s four licenses in the country.

Of the current nine Betsson brands that operate in the UK, eight will be withdrawn with immediate effect with no further deposits or bets accepted, as its focus turns to a single presence in the country through its Rizk brand, which it acquired from GiG in earlier this year.

The operator mentioned that it had been reducing its business in the UK over the past few years, including closing its offices in the country at the end of 2018.

Currently, Betsson operators with nine brands on three different platforms, under four licences in the UK market, three of which will be handed back to the Gambling Commission. It believes the move will “increase efficiency and have a positive impact on the contribution from its UK business”, as well as boosting growth in other markets.

UK revenues only represent approximately 3% of the group’s overall revenue and an ever-changing regulatory framework in the country, which requires significant investments, isn’t sustainable going forward, according to the operator.

The eight brands that will no longer operate in the UK will be retained in the group’s portfolio for use in alternative markets. Those brands include Betsafe UK, CasinoEuro, Jackpot24/7, RaceBets and Kaboo.