Finnplay’s Viral Interactive withdraws white-label business in regulated markets
Malta-based provider’s B2C solutions arm takes action due to troublesome market conditions and rising costs
Finnplay has pulled its Viral Interactive white-label business out of regulated markets, including in Sweden and the UK.
Viral is the B2C multi-channel casino and betting solutions arm of Finnplay Group, a Nordic-based egaming platform provider.
Finnplay Group took the decision to withdraw due to worsening market conditions and increasing operational costs.
There was no explicit mention of coronavirus in a company statement released today as the supplier pointed towards similar strategic moves by white-label rivals.
Alongside Sweden and the UK, Viral operated white-label sportsbooks in Belgium, Bulgaria, Denmark, Hungary, Malta, Mexico and Romania.
Martin Prantner, Finnplay Group’s founder, said: “We regret the decision to close our white-label operations in these markets, especially after having successfully co-launched many exciting brands over the years.
“However, being realistic, market conditions are not favourable for smaller operators in an ever-tightening regulatory framework resulting in diminishing profitability. In the months to come, we will review our strategic options and restructure our business accordingly.”