Videoslots and Global Gaming Granted Entry to Sweden

Casino operators, Videoslots, and Global Gaming have been granted iGaming licenses by Swedish authorities. Consequently, these brands will be permitted to launch their services in this country as of January next year.

As the relaunch of the completely re-regulated gambling market in Sweden gets underway in less than one month – on the first day of the new year, to be quite precise – Sweden's government and the state regulatory body, Lotteriinspektionen (due to be rebranded to Spelinspektionen) have a handful of work to do in December.

The Final Countdown

The culmination began days ago, when several notable names of the industry got green-lighted for providing their services in Scandinavian country marred by unlicensed operators...

...Some of the big names that should revitalize the market and completely change the business landscape of the country are LeoVegas and Kindred Group, who were granted online licenses last week.

Joining them are Betsson, Svenska Spel and AB Trav & Galopp but also Bet365, GVC Holdings, Casumo, SkillOnNet and numerous others.

In total, some 70 applications for iGaming licenses have been submitted to Lotteriinspektionen. A remainder of those who have not yet received a response will be reviewed during December.

A Seal of Approval

Global Gaming has been given online gambling and sports betting licenses which they will be using via their Ninja Casino and Spellandet.com websites. Videoslots has a globally recognized online casino and that's what they got a license for.

Linda Karrholt, Head of Compliance at Global Gaming, said: “We were one of the first operators to submit a licence application on August 1 2018, the first available day, and are proud to announce that all the hard work put in by our team has paid off.”

Joacim Moller, their CEO, complemented that statement by saying that the approval by the regulator, for which the operator is thankful, signals their approval of Global Gaming's business model but also “gives an opportunity to continue focusing on our largest market.”

Videoslots' representatives were happy with the news as well...

...As their CEO, Alexander Stevendahl, puts it, the company is optimistic about the potential of Swedish market and is thankful for the opportunity to help it grow.

Recovering From a Fine

The two new Swedish licensees, Casumo and Videoslots, found themselves in something of a pickle recently when the world's most strict regulator, United Kingdom Gambling Commission found them guilty of money laundering omissions as well as failures in vulnerable players protection.

The two companies were ordered to pay a £5.8 million and £1 million in penalties respectively. Videoslot's statement said that hey accept there were weaknesses in our system “relating to how we managed our customers for anti-money laundering and social responsibility purposes and have taken proactive and timely action to address all the issues identified.”

Source:

“Two more operators secure Swedish iGaming licenses”, igamingbusiness.com, December 4, 2018.