Swedish economy

B2B firms highlight ‘significant growth opportunities’ in Swedish sector

The expansion of the Swedish B2B supplier pool has been praised by EveryMatrix, one of the latest companies to secure a five-year licence in the country.

A new framework for B2B sportsbook and igaming providers will come into force in Sweden on 1 July, and the Spelinkspection gambling authority is currently processing over 60 applications from 1 March onwards.

EveryMatrix became the seventh firm to secure a Spelinspektionen supplier licence yesterday, enabling the company to provide its API-based iGaming solutions, content and services in the market after the July launch date.

Ebbe Groes, EveryMatrix CEO, said: “I’m delighted EveryMatrix has become one of the first providers to be licensed in Sweden under new requirements and well ahead of the deadline.

“This will further safeguard brands and their players with regulated products and services and enable us to offer our game-changing technology that is proven to significantly boost player experience and operator revenues.”

“We have identified significant growth opportunities in Sweden, and we are now perfectly positioned to accelerate our growth plans there.”

Malta-based EveryMatrix noted that the Swedish betting market as a whole has been valued at SEK 1bn (€1.5bn) in online gross gambling revenue, generating the ‘significant growth opportunities’ cited by Groes.

A move towards a separate licensing system for B2B companies in Sweden began last year with new requirements for suppliers adopted into existing gambling law by the Rikstag in mid-November 2022, backed by the Ministry of Finance (Finansdepartementet).

The proposed requirements saw a B2B licence of SEK 120,000 (€11,000/£9,600) suggested, along with an increase in the renewal fee from SEK 300,000 to SEK 600,000 (€55,300/£48,100).

Ahead of the July launch, Programutvecklarna i Norrköping AB, Skill On Net and Synot Games became first approved licence holders, followed by EveryMatrix, Yggdrasil, Relax Gaming and Hacksaw Gaming.

Two more applications were approved this morning, as slots developers Thunderkick and Play n’ Go – both native Swedish enterprises – became the eighth and ninth B2B licensees.

Wan Kim, Head of Compliance at Thunderkick, said: “We’re really pleased to have been selected for a B2B permit. We look forward to working with the SGA and are thankful to them for a swift and simple process.

“It’s crucial for us to remain compliant in every market but especially our home one, and we’re excited that we can continue showcasing our games to our fellow Swedes.”

In the case of Play n’ Go, the approval marks a renewal of its operations in Sweden under the new framework, whilst falling in line with the firm’s strategy for a global rollout.

Play’n Go’s expansion strategy so far has focused heavily on the US, with the firm having secured approval in the US states of Connecticut, New Jersey, Michigan and West Virginia, and Canada’s Ontario province.

Magnus Olsson, Chief Commercial Officer for Play’n GO, added: “Sweden is Play’n GO’s home turf. We are most certainly a global company today, with both staff and customers all over the world, but we maintain our firm roots in Sweden to this day. It’s extra special for us to receive one of the first licences from the regulator Spelinspektionen.

“Of course, we will continue to supply the most exciting and safe casino gaming experience to Swedish players, as we have done for nearly 20 years.

In addition to the aforementioned firms, Finnplay, Nolimit City and Inspired Entertainment have also been approved by the Spelinspektionen, bringing the total number of B2B Swedish licensees so far to 12.

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