Tag Archives: Sweden

Kambi wins Svenska Spel ‘sportsbook diversification’ tender 

SBC News Kambi wins Svenska Spel ‘sportsbook diversification’ tender 

Kambi Group Plc has won an exclusive commercial tender to enhance and diversify the end-to-end sportsbook capabilities of Svenska Spel. Announced as a ‘major coup’ for the Stockholm-listed technology group, Kambi will power ‘Svenska Spel Oddset’, the flagship sportsbook brand of Sweden’s state-owned gambling and lotteries group. Svenska Spel has enlisted Kambi to supply all sportsbook-related provisions to deliver a …

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Kambi secures Swedish renewal with ATG

SBC News Kambi secures Swedish renewal with ATG

Kambi Group Plc has renewed its multi-channel sportsbook supplier agreement with AB Trav och Galopp (ATG), Sweden’s horse racing and trotting monopoly. The Stockholm-listed technology group will continue to provide ATG with its comprehensive end-to-end sportsbook solution, inclusive of AI-powered trading systems. This Swedish partnership, active since 2018, has allowed Kambi to deliver customised trading solutions for ATG’s retail network …

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Spelinspektionen accepts AML penalty fee settlement for 2024  

SBC News Spelinspektionen accepts AML penalty fee settlement for 2024  

Spelinspektionen, Sweden’s Gambling Inspectorate, has issued a ‘positive response’ to changes that will be applied to the Money Laundering Act. As sanctioned in September by Finansdepartementet – the Ministry of Finance of Sweden – Spelinspektionen must “adjust penalty fees for gambling operators violating AML legislations” from 1 April 2024.   The proposed adjustment equates to penalty fees for AML infringements, in …

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Swedish government proposes gambling tax increase in 2024

Sweden

The Swedish government has announced a proposal within its 2024 budget to increase gambling GGR tax as it believes the country’s market is now steady following legalisation in 2019. From 1 July 2024, Regeringskansliet plans to increase Sweden’s gambling tax from 18 per cent to 22 per cent in hopes of raising an additional SEK 540m (£39.4m) per year. With …

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Spelinspektionen submits 2024 lottery reforms to EC 

SBC News Spelinspektionen submits 2024 lottery reforms to EC 

Spelinspektionen, Sweden’s Gambling Inspectorate, has submitted its proposed commercial and technical rule changes on state lotteries and lotteries for charitable purposes to the European Commission (EC).  The changes, filed as “The Lottery Inspectorate’s general advice on state lotteries and lotteries for charitable purposes,” will necessitate updates to Sweden’s Gambling Act and a subsequent review by the EC’s Chamber of Commerce.  …

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Sweden to equalise Gambling fines on AML violations

SBC News Sweden to equalise Gambling fines on AML violations

Finansdepartementet, the Ministry of Finance of Sweden has moved to equalise AML fines and penalties across high-risk Swedish industries.  The decision has been welcomed by Swedish gambling trade association Branschföreningen för Onlinespel (BOS) on the condition that gambling revenue specifics are recognised by authorities. Last Friday, Finansdepartementet published a memorandum which outlined changes to the Money Laundering Act, citing that …

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Spelinspektionen reveals YoY drops for Swedish gambling

Spelinspektionen revises stance on negative equity licence requirement

Sweden’s betting sector took a hit during the second quarter against 2022 comparatives according to the latest figures from the Spelinspektionen, the country’s Gambling Inspectorate. Total Swedish industry revenue for the quarter stood at SEK 6.7bn (€562m), down around 1% on corresponding Q2 2022 results of SEK 6.77bn (€568m). This left year-to-date revenue also down by around 0.5% from SEK …

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Svenska Spel funds new research projects on Swedish problem gambling

SBC News Svenska Spel funds new research projects on Swedish problem gambling

Svenska Spel has pledged to fund five new research projects aimed at enhancing the understanding of Swedish gambling addiction and its societal impacts.  This initiative was announced by the Independent Research Council of Svenska Spel, Sweden’s state-owned gambling and lotteries operator. The research projects will collectively receive funding of SEK 4.1m (€350,000), with the aim of providing Swedish public health …

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Kindred begins 2023 turnaround on cost efficiency to drive profits  

Nils Andén, Kindred CEO

Kindred Group Plc has updated investors on a period of intense activity, in which its business has undertaken a change in leadership and implemented a strategic review of markets and operations.   Publishing its H1 2023 interim results, the group said it continues to focus on “gaining operational efficiencies to increase profitability”. Headline growth saw Kindred register Q2 group revenues of …

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Zimpler to challenge Swedish Bank-ID dispute 

SBC News Zimpler to challenge Swedish Bank-ID dispute 

Zimpler has confirmed that it will appeal against the intervention of the Swedish Gambling Inspectorate, Spelinspektionen, which has deemed its business of facilitating payments for unlicensed online gambling operators as illegal. An authorised payment services provider of Finansinspektionen, Sweden’s Financial Supervisory Authority, Zimpler was accused by Spelinspektionen of offering Bank-ID secure transactions to process payments for unlicensed firms. After being …

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