Sweden Issues More Licenses Ahead Of The Launch Of New Liberalised Gambling Market

by
Sweden Issues More Licenses Ahead Of The Launch Of New Liberalised Gambling Market ( Click to Enlarge )

The regulating body for Sweden’s gambling industry has issued four new licenses as the country continues to relax the laws and regulations of its online gambling market. The Scandinavian country’s gambling regulation body Lotteriinspektionen, soon to be renamed Spelinspektionen, revealed the issuing of four new licenses to gaming companies, allowing them to set up shop in Sweden.

The new licenses bring the total of legal gambling companies to 31 ahead of the launch of the country’s new liberalised gaming laws in 2019.

New Licensees

The companies that received the new licenses include Dumarca Gaming, part of the UK gambling firm Jackpotjoy, with their Intercasino and Vera & John brands being approved for online gaming. Bayton Ltd has been approved to launch its online JackpotCity, Spin Casino and Ruby Fortune brands.

Genesis Global Ltd has been given the green light for nine of its casino brands to launch online gaming, while six sports betting brands that are part of Enlabs AB were also given approval. The recent license approvals come hot on the heels of the host of affiliate brands that were given the go-ahead in early December as part of the gaming group L&L Europe Ltd.

Relaxed Online Laws

Sweden has taken steps to liberalise its gambling laws as part of a drive to ensure better protection for gambling consumers in the country and a way to mitigate problem gambling behaviours. The new gambling regulations will see the state still retain control over physical casinos in the country, gaming machines, and lotteries, but will relax the laws over online gaming products including casino, bingo, and virtual sports.

The new regulations will see licenses issued for a period of five years, with the licensed gaming operators paying a rate of 18% tax on their revenues.

Anticipation over the new relaxed gaming market in Sweden has seen major moves in the country’s gaming industry. Industry giant William Hill made a large takeover offer for the Swedish based Mr Green & Co in October, while December has seen a consortium that is led by the UK based private equity firm Bridgepoint make a cash offer of 9.2 billion Swedish crowns to take over the Swedish based gaming company Cherry AB.