Sweden-Receives-22-License-Applications-On-Launch-Day

Sweden Receives 22 License Applications On Launch Day

Release date: Jan 23, 2019

Last Edited: Jan 23, 2019

Sweden Receives 22 License Applications On Launch Day

Online casino names such as Svenska Spel and Betsson were among 22 companies that applied for the new Sweden gambling licences on the first day of submissions.

Over 1,500 documents were filed with regulator Lotteriinspektionen on the first day by the operators eager to be ready for go when Sweden’s gambling market is opened up in January 2019.

Under the new terms of the Gambling Act, from January 1 2019, gambling subject to licensing will be taxed at 18%, while there will be “strict requirements for moderation in marketing gambling”.

Svenska Spel, Casino Cosmopol, which owns four casinos in Sweden, and horseracing betting monopoly AB Trav and Galopp, ElectraWorks (Bwin), and German-facing Interwetten also submitted applications on the opening day.

Lotteriinspektionen asked the applicants to submit their documents as soon as possible to be sure of being licensed before January 2019. It said licences will only be awarded to those 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.”

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