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More and More Companies Apply for Swedish Gambling License
- August 9, 2018 By Riley Wilson -
Submitting applications for new gambling licenses in Sweden has begun and so far 22 interested companies applied.
The list of applicants includes such names as SvenskaSpel, Global Gaming, and Betsson.
The country’s gambling regulator Lotteriinspektionen has up until this point received over 1,500 application documents sent by companies eager to get their share of the Swedish gambling market.
A Lucrative Market
The new regime will take effect on January 1, 2019, thus ending the monopoly of the state-owned SvenskaSpel.
The estimates say 70 companies will apply for the new license, while all those who receive it will be taxed at 18%, along with “strict requirements for moderation in marketing gambling.”
Pontus Lindwall, Chief Executive Officer at Betsson, stated that applying for the Swedish license was something he had desired since joining the industry back in 1992.
Commenting on the new gambling regime, Lindwall said Betsson was a Swedish company, present in the market for a very long time, and added it was great that it opened up for regulation and for license applications. He pointed out the company would get better possibilities for marketing, sponsorships and PR and added he didn’t expect any major changes in the way the company operated.
A Long List of Interested Companies
SvenskaSpel, Casino Cosmopol, and AB Trav and Galopp were among the first to submit their applications. ElectraWorks, which operates Bwin and Interwetten soon followed.
SvenskaSpel has recently revealed it was preparing to enhance its offering in order to be more competitive once the new competitors enter the market on January 1.
The list of interested parties is very long and includes Mandalorian Technologies Limited, CashBet, MT SecureTrade Limited and Zecure Gaming.
The country’s regulator has advised all the applicants to submit the necessary documents as early as possible, in order to be sure their applications are completed in time. Lotteriinspektionen pointed out that only those companies with “the knowledge, experience, and organisation required to operate the business [and] who can be assumed to operate the business in accordance with laws and regulations applicable to the business, and who are otherwise considered to be suitable to operate the business” will get the license.