Better Collective and Betsson Signal Support for Nordic Compass Unified Exchange Proposal

Better Collective and Betsson have expressed support for the Nordic Compass alliance and its exploration of a unified stock exchange for Sweden, Finland, Denmark and Norway. The cross-industry group formed in spring 2026 seeks to strengthen regional capital markets and counter the migration of European companies to US listings.

In the past 10 years, 130 Euro businesses have moved stateside with a $650bn shift out of Eurozone exchanges, according to HSBC Global. Examples include Flutter Entertainment, which moved its primary listing to New York in 2024 and completed its delisting from London this year. Nordic Compass aims to address barriers that limit investment flows and make it harder for local firms to raise capital as they scale.

Jyrki Katainen, former Finnish Prime Minister, chairs the alliance. Participants include Wallenberg Investments, EQT, Nordea, SEB, Nasdaq Nordic and the Novo Nordisk Foundation. The group will present initial proposals at the Nordic Compass Summit in Gothenburg on 4–5 November. The project could access a Scandinavian pension base and sovereign wealth funds managing almost $4 trillion in assets.

Views From Nordic Gaming Operators

Better Collective A/S Chief Executive Officer Jesper Søgaard told SBC News the company is “following the developments around a unified Nordic exchange closely and are broadly supportive of initiatives that strengthen the region’s capital markets.” Søgaard noted that Better Collective, founded in Copenhagen in 2004 and dual-listed on the Copenhagen and Stockholm exchanges, already sees advantages from operating across two Nordic markets. A single regional exchange “would take that integration to the next level.”

Søgaard added that joining forces would deliver “greater international visibility and attract broader analyst coverage from industry experts, which is essential for gaming and media companies when competing against the pricing and scale offered by US markets.” He stated that while origins remain part of a business’s DNA, competitive global markets require financial structures that match international standards.

Betsson’s leadership voiced positive views on efforts to strengthen Nordic capital markets. They cited potential benefits from greater integration, deeper liquidity and easier access for international investors. At the same time, the company said discussions remain at an exploratory stage, making it premature to comment on any specific structure before a detailed proposal emerges.

Requirements for Progress

November’s summit will focus on developing proposals rather than announcing a merger. Any consolidation would require agreement from existing exchange operators, including Nasdaq and Euronext, owner of Oslo Børs. The outcome will determine whether Nordic Compass produces concrete rule harmonisation on listings, investment options and public offerings or remains an industry discussion group.

Reporting: SBC News

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