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One of the operator’s most significant challenges is the increase in gambling tax enforced over recent years. Petra has been particularly vocal about this and the company’s profitability has taken a reasonable hit, since the first tax increase to 34.2% of GGR came into effect on 1 January 2025.

Holland Casino now pays 37.8% of GGR to the state, as per the additional increase in 2026, but with labour tax on top the business pays around 52% before they can look at their base running costs. It is not a small burden by any stretch of the imagination, so it is heartening to see the business doing well despite the tightening tax burden.

With such a significant rise in tax, you would forgive the company for cutting wherever possible, but Petra says they have made it work by maximising efficiency, restructuring, and maintaining their offering so the customer doesn’t notice that anything has changed.

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“We’ve got lots of cases, EstrelaBet being one of them. They started from nothing and they grew a lot. And probably platform suppliers will have ignored them and regret that later on. You’ve got lots of cases like that.”

Atucha suggests global scale is only an advantage for international operators when it is executed with a local perspective. Having been in the Peruvian market since 2008, Betsson boasts considerably more local experience than a newer international entrant. “We have seen it all,” Rossi says.

Rossi argues that there is no single ingredient behind the operator’s success in Peru. Betsson has made Peru a key growth market in LatAm, which for the first time in Q2 took over as its largest region by revenue, accounting for 36% of its Q2 revenue at €310.2 million.

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