A New Era in Sweden Dawns with a Sweet New ApplicantPublished August 5, 2018 by Lee R
The massive market is ready to trade the shadow of monopoly for an unexpected position at the forefront.
Global Gaming’s application for license brings to light the unique new model for regulation on the way to Sweden for 2019.
With Global Gaming subsidiary SafeEnt Ltd. Malta’s recent filing of a licence application in Sweden, the new market is taking shape for the first time.
The New Regime
Taking effect January 1, 2019, all operators in the Swedish gaming market will be required to hold a license from Swedish Gambling Authority Lotteriinspektionen, with the application window having just now opened on August 1.
Global Gaming Leader Speaks
Of his organisation’s bold new move, Global Gaming CEO Joaqim Miller called Sweden “Global Gaming and Ninja Casino’s premier market.”
Global Gaming is a new breed in iGaming, built on innovative and safe gaming services built into several successful casino brands.
Global’s flagship offering Ninja Casino features disruptive technologies to afford players the safest and most seamless online casino experience possible by eliminating lengthy registration processes.
By offering this aggressive innovation, Global Gaming is carving a niche that can carry over into a new type of regulation model in the highly sought after yet long monopolized Swedish market.
Sweden’s Recent History
The Swedish market has experienced its growing pains, with tedious reviews and hair-splitting with the EU characterising a process of transformation in approach to the market which was so long monopolized by government-owned Svenska Spel.
The about-face of the Swedish government can likely be traced to the elephant in the room rising around the government’s obstinance: a massive and growing unregulated market that by 2018 was set to overtake legal gaming activity.
Nonetheless, it took right up until May for a fully “re-regulated” gambling bill to be adopted by the government so that in the words of Minister for Public Administration Ardalan Shekarabi the country could take “action and regain control of the Swedish gambling market.”
Key provisions of the re-regulated gambling law indicated the dissolution of the national gambling monopoly that gave Svenska Spel a stranglehold over the market.
In its stead, a more Democratic model of three new gambling sectors will replace it, centered around the competitive sector allowing licensed operators to offer and market online gambling services to the Swedish market.
In a unique twist, licenses will be available to operators within and outside the European Economic Area, with those outside the EEA required to establish representation within Sweden.
Sweden’s gaming authority will now be known as Spelinspektionen, whom will grant licenses for maximum 5 year terms, and collect an across the board 18% tax on gross gaming revenues.
A list of sanctions has been established for unlicensed operators, with the gaming authority retaining the right to block the ISP’s of violating operator sites.
The new regulation in Sweden represent something of new era for iGaming. Bold entrants such as Global Gaming seem like ideal new blood to set the tone for a freer, more equitable, and innovative regulation model in Sweden that certainly has the potential not only can to come current with iGaming, but to blaze a new trail of leadership as well.