Thursday October 09,2014 : LADBROKES EXITS GREY MARKETS

Will continue to withdraw from further “grey markets” to comply with UK legalization

Ladbrokes has exited Switzerland, Norway and Hungary following an internal legal and regulatory review.

The gambling firm said in order to comply with new UK legalization, expected to come into force on November 1, 2014, Ladbrokes will continue to withdraw its services from “grey markets”.

The company has reportedly closed player accounts in those markets and ceased marketing and customer acquisition activities.

The withdrawal coincides with a call from the Norwegian Authorities’ for unlicensed operators to cease offering their services and Switzerland’s intention to institute tougher measures against foreign operators it deems to be operating illegally in the country.