Swedish regulator handed funding boost

Swedish gambling regulator Lotteriinspektionen is set to receive an additional SEK19m (€1.8m/$2.3m) per year in funding from the country’s government.

According to reports in the Swedish media, the financing will provide extra support to the body as it embarks on one of the greatest periods of regulatory change within the Swedish gambling market.

Earlier this month, the Swedish government edged closer to introducing new laws after it submitted secondary legislation to the European Commission.

The new legislation covers rules regarding licensing, international cooperation, responsible gambling, supervision and fees.

Sweden is due to open a licensing process on August 1 ahead of the expected introduction of the revamped laws on January 1, 2019.

The Lotteriinspektionen is also expected to take on additional duties as a result of the changes and will require further funding to support these activities.

Swedish legislators are yet to give final approval to the additional funding.

Related article: Sweden pushes back licence applications to 1 August