Operator News
Sweden – Casino Cosmopol up 22 per cent in Q1
By Phil - 30 May 2023
Swedish state-owned casino group Casino Cosmopol produced revenues of SEK 126m in the first quarter, a rise of 22 per cent from SEK 103m in Q1 2022.
According to Swedish gambling regulator, Spelinspektionen, gaming companies with a Swedish license generated sales of SEK 6.6bn during the first quarter of 2023. Sales are unchanged compared to the same period last year.
At the end of Q1, just under 92,000 people were suspended for gaming via Spelpaus.se. This is an increase of eight per cent compared to the previous quarter.
Online casino gambling brought in the majority of the total revenue, accounting for SEK 4.1bn, representing a slight decline from Q1 2022. State lottery and slot games brought in SEK 1.36bn, an increase from SEK 1.29bn.
Other land-based gaming, such as restaurant casinos, accounted for SEK 27m whilst games for public purposes accounted for revenue of SEK 812m with community games and bingo generating SEK 38m.
In order to create a healthy and safe gambling market and prevent gambling addiction, the Swedish government has today decided on additional measures to combat illegal gambling activities.
Minister of Financial Markets Niklas Wykman said: “The illegal gambling business causes great damage and must be removed from the Swedish gambling market. What we are doing now is aimed at blocking payment mediation for such criminal activities and thereby increasing the protection for Swedish consumers.”
The changes to the regulations that the government has now decided on include, among other things, an obligation for payment service providers to submit certain information to the Gaming Authority. It is about information that is used when mediating stakes or winnings to or from gaming companies that do not have a license. This enables a more efficient system for blocking payments, with a joint responsibility for the Gambling Inspectorate and the payment service providers to work together to shut out unlicensed actors who, in violation of the Gambling Act, target Swedish consumers.
The changes will enter into force on 1 July 2023.
