Tag Archives: Sweden

Underperforming Casino Cosmopol fails to take Sweden over GGR target line

SBC News Underperforming Casino Cosmopol fails to take Sweden over GGR target line

Spelinspektionen, Sweden’s Gambling Inspectorate, has released its annual report on total gambling turnover for the year ending December 2023.  According to the numbers, Swedish licence holders managed to accumulate a gross gambling revenue (GGR) of SEK 27.1bn (€2.5bn) from the local market, which constitutes a 1% YoY decrease.  State casino turnover, mainly driven by the state-owned Svenska Spel’s Casino Cosmopol, …

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Sweden’s 180-degree turn on credit gambling ban draws industry criticism

Kambi, Air Dice, Sweden

The Swedish Trade Association for Online Gambling (BOS) has taken a stance against the Ministry of Finance mandate for a comprehensive ban on gambling with credit.  According to the proposal memorandum, the ban will boost Sweden’s efforts to prevent cases of indebtedness caused by credit gambling.  By law, licensed gambling operators carry a “duty of care” which mandates that they …

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Magnus Linder, Better Collective: Taking big steps in diversification and expansion

SBC News Magnus Linder, Better Collective: Taking big steps in diversification and expansion

Magnus Linder, Director of Northwest Europe for Better Collective A/S, opens up on the latest developments for the company, including acquisitions, strategy and its vision to become a preferred partner and industry leader. ________________ SBC: Last summer you acquired four Swedish websites from the Everysport Group: SvenskaFans.com, Hockeysverige.se, FotbollDirekt.se and Innebandymagazinet.se. Circa six months on from that deal, what have …

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FDJ clears Swedish financial audit to proceed with Kindred €2.6bn buyout

SBC News FDJ clears Swedish financial audit to proceed with Kindred €2.6bn buyout

Groupe Française des Jeux (Groupe FDJ) has announced that it has received regulatory approval by Finansinspektionen, Sweden’s Financial Supervisory Authority, to proceed with its offer to acquire Kindred Group Plc. The Paris Euronext gambling group secures its Swedish market’s financial authorisation to formally launch its SEK 130 (€11.40) per share offer to acquire Stockholm-listed Kindred Group, a deal announced on …

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Svenska Spel to close Cosmopol Gothenburg & Malmö venues on 24 Feb  

SBC News Svenska Spel to close Cosmopol Gothenburg & Malmö venues on 24 Feb  

Svenska Spel has confirmed that it will close its Casino Cosmopol venues in the cities of Gothenburg and Malmö on Saturday, 24 February. The decision follows Svenska Spel’s conclusion of negotiations with the respective trade unions on the closure of venues deemed ‘no longer profitable’ for Sweden’s state-owned gambling group. The closure of Cosmopol’s Gothenburg and Malmö venues follows Svenska …

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Stockholm District Court dismisses Holknekt challenge against Kindred 

SBC News Stockholm District Court dismisses Holknekt challenge against Kindred 

The District Court of Stockholm has dismissed a legal challenge against Kindred Group related to the compensation of losses of gambling addict Per Holknekt. Renowned fashion designer and founder of online retailer Odd Molly, Holknekt began legal proceedings in July 2022 against Kindred Group and its relationship with subsidiary Trannel Ltd. Holknekt claimed that he was a VIP customer of …

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Kindred counts cost of US withdrawal as FDJ demands Norway exit ahead of takeover

Nils Andén, Kindred CEO

Kindred Group Plc will continue to prioritise enhancing operating efficiencies and cost controls, with shareholders set to vote on the future of the Stockholm online gambling group. The focus on cost controls is required as Kindred published its Q4 and full-year 2023 results this morning, revealing period corporate losses of £19m (Q42022: £52m). Full-year accounts see profits ‘before tax’ decline …

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Riksdag to review match-fixing data compliance orders with GDPR rules 

SBC News Riksdag to review match-fixing data compliance orders with GDPR rules 

Sweden’s Riksdag has been ordered to review a ‘memorandum for referral‘ proposing further tightening of gambling laws to protect against match-fixing. Authorized by the government, the memorandum has proposed amendments to Sweden’s Gambling Act of 2018 to allow “gambling licensees the right to process information on infringements related to or suspected of being involved in match-fixing.” The amendment requires the …

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Spelinspektionen strengthens online gambling safety with two bans

swedish law kindred

Sweden’s gambling regulator Spelinspektionen has issued bans to two operators for unlicensed activity in the country. The two companies in question – True Polygon Entertainment Limited and Smein Hosting NV – have been accused of providing unobstructed access to gambling on their main and affiliate websites (CSGOBIG, Gamdom) without having the required licence to do so.  These are the first …

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FDJ moves on €2.6bn all cash acquisition of Kindred

SBC News FDJ moves on €2.6bn all cash acquisition of Kindred

 Groupe FDJ has outlined its ambitions to create a “new European gaming champion” by launching a €2.6bn all cash tender offer to acquire Kindred Group Plc outright.  The Paris Euronext exchange was informed this morning of FDJ’s opening offer to acquire Stockholm-listed Kindred Group, putting forward a SEK 130 (€11.40) per share offer to the firm’s board.  As detailed by …

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