Yggdrasil and Relax among latest round of Swedish B2B licence holders

Yggdrasil and Relax among latest round of Swedish B2B licence holders

Spelinspektionen, Sweden’s gambling authority, has confirmed new B2B licence holders, having implemented a new framework for gaming suppliers earlier this year.

Four firms have been granted licences in the latest round of successful applications – Yggdrasil, Relax Gaming, Hacksaw Gaming and EveryMatrix – following on from the debut three licensees entering the market last week.

Upon issuing the first licences to SkillOnNet, Synot Games and Programutvecklarna i Norrköping on 20 March, the Spelinspektionen noted that it had received a total of 60 applicants from 1 March onwards.

The regulator is still processing the remaining applications, with the licences valid from 1 July 2023 over a five-year period, and for companies such as Relax and Yggradsil, the move marks a significant expansion into another major European gaming market.

Rachel Winberg, Head of Regulatory Compliance at Relax Gaming, said: “We are thrilled that the SGA has green-lit our products and content, allowing us to continue providing a wealth of safe and entertaining wagering opportunities to players across Sweden.

“It is no secret that we place great emphasis on broadening our reach and take great pride in showcasing our content across established jurisdictions. We couldn’t be more pleased to be able to continue offering our quality games in a mature market like Sweden.”

Building on recent licence acquisitions in Greece and Ontario, Relax Gaming plans to take its Temple Tumble 2 Dream Drop, Money Train 3 and Book of Power products live with Swedish B2C operators.

Meanwhile, for Yggdrasil, the agreement further expands its presence in Northern European markets, following a deal further west which saw its content rolled out by BoyleSports in the UK.

The issuing of a Swedish B2B licence for both Yggdrasil and Relax Gaming follows an agreement between the two in December 2022, centring on distribution of the former’s Game Engagement Mechanics (GEMs) for British land-based casinos.

Petter Envall, General Counsel and Chief Legal & Compliance Officer at Yggdrasil, remarked: “Remaining compliant in all jurisdictions in which we operate is critical to us and has always been a key priority for Yggdrasil.

“Sweden is one of our core markets, and the team was fully focused on submitting our application for the new permit as soon as the application process opened. 

“Yggdrasil has a clear regulatory strategy focus and we maintain very close relationships with our locally regulated operators. Yggdrasil encourages other vendors to apply for this licence and I would like to give praise to the Swedish Gambling Authority for a very simple and straightforward process for administering these permits.”

Sweden began moving towards a B2B licensing system last year, with requirements adopted by the Riksdag in mid-November suggesting licence fees of SEK 120,000 (€11,000/£9,600), along with an increase in the renewal fee from SEK 300,000 to SEK 600,000 (€55,300/£48,100).

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