Swedish regulator issues warning to licence hopefuls
Operators that do not apply quickly for Sweden’s gambling licences could miss the opening of the market in January.
The country’s gaming regulator advised those hoping to gain an early advantage to begin the application process as soon as possible, with application forms now available. The licensing window opens on 1 August.
Sweden is gearing up to be one of the most competitive newly regulated markets in Europe, with major companies lining up to bid for licences. State-owned gambling company Svenska Spel last week told iGamingBusiness.com that it has already begun to prepare a series of enhancements to content and technology as it anticipates facing “fierce competition” from January.
With the window opening in less than three weeks’ time, the regulator said it could not guarantee that “applications filed later in 2018, that are very complex, or that will need additional documents” will be granted a licence in time for January.
It added: “Our ambition is to process as many applications as possible before 1 January 2019.”
Lotteriinspektionen confirmed all applications must be completed in Swedish. The online gambling and betting form is 14 pages long, with licences also available for games with a public benefit and state land-based casinos and token machines, as defined by the Gambling Act.
Lotteriinspektionen 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.”
Under the terms of the Gambling Act, from January 1 gambling subject to licensing will be taxed at 18%, while there will be “strict requirements for moderation in marketing gambling”.
This week Stockholm-listed Cherry confirmed to iGamingBusiness.com that it will apply for a licence in August, using its recent experience in Poland to guide its bid.
Picture source: Hangsa