Month: June 2023

A white paper published by former Genting exec and founder of the Praxis consultancy Steven Myers and Robert Montgomery, the investor and entrepreneur behind First Maximilian Associates, outlines plans for a new reporting product, ESG Fintel. 

ESG Fintel is a tool combining current ESG metrics with approaches customised for gaming and leisure. It uses the UN Sustainable Development Goals (UNSDGs), then company performance data and industry-specific metrics.

These centre around responsible gambling, compliance and marketing to create a more accurate picture of an operator or supplier’s performance. 

“It is clear that the benefits of an improved approach to ESG are financially significant for the gaming industry,” Montgomery explained. “The objective of ESG Fintel is to unlock these benefits for proactive companies and investors alike.”

The need for a new approach to ESG in gaming

Myers explained the gaming industry faces “significant ESG compliance and reputational issues”. These put both individual companies and the wider sector at a disadvantage. In particular the industry’s reputation among the investment community, banks, governments, regulators and consumers suffers. 

“It is unquestionable that some of this has been influenced by the poor practices and performance of certain players,” the white paper explains. A series of regulatory settlements and investigations caused by poor governance or problem gambling dog the industry’s social standing. This has resulted in more than £40m in fines being paid to the GB Gambling Commission in the past year alone. 

The performance of another age-restricted industry show there’s an alternative. Cooperation between the leading companies in the alcohol industry around sustainability helped reset the public perception of that sector. That, Myers and Montgomery claim, shows the potential upside for the gambling sector. 

How can ESG benefit gambling?

They estimate the combined market caps of the top 40 listed gaming companies totals $271.91bn. Marginal improvements to their ESG standing could lead to a 2% improvement in valuations across the sector, equating to a possible $5.44bn increase in the total market cap. 

Improved ESG compliance may also lower the cost of capital. Equity and debt financing, for a business viewed as less risky, could lower interest rates, and ultimately boost gaming companies’ bottom lines. 

Lower sector risk, and potentially higher returns, may even encourage ESG or sustainability-led funds to move into the sector. 

But Myers and Montgomery warn this is not possible using current ESG metrics. The current approach investors and operators take is “too qualitatively and quantitatively simplistic”. It fails to address the “unique and intricate” facets of gambling. 

For example, there’s currently an over-emphasis on environmental issues in ESG monitoring, something less applicable to igaming companies. The social and governance aspects specific to the industry are not given enough prominence. 

As a result, financial and operational metrics provide a clearer insight into the impact of sustainable and responsible actions. The white paper picks out pre- and post-acquisition performance of acquired assets, as a good indicator of strong governance. 

Hurdles still to clear

Myers and Montgomery aim to provide this new, more holistic view of ESG for gaming and leisure through the ESG Fintel solution. However there are a number of hurdles still to clear. 

A lack of cohesive and relevant date to quantify the impact of the current approach to ESG may hold back the solution’s development, and slow adoption by companies may hinder progress. 

It remains to be seen whether the industry sees the upside of enhanced ESG reporting and compliance as attractive, and the theory of valuations rising and borrowing rates falling must be stress-tested. 

The pair question whether companies will be able to meet the additional compliance burden, while competing solutions may prevent adoption. Ultimately ESG Fintel must also secure buy-in from the investment community if it is to become embedded in the industry. 

Myers and Montgomery see the white paper as a starting point for the solution, with a view to engaging industry stakeholders to develop ESG Fintel further. 

“The goal is to layer a simple and effective reporting and performance tool on top of current practices in order to unlock an improved ESG standing for operating companies, and to be able to support its sustainability on both individual company and industry-wide levels.”

A new report published by Denmark’s gambling regulator Spillemyndigheden laid out how the gaming sector performed in 2022 along a range of metrics, inlcluding total revenue and average spend.

Last year the gambling market was largely unaffected by Covid-19 restrictions. This meant land-based casinos and slots machines reported a rise in revenue when compared to 2020 and 2021.

However, the total gross gambling revenue for the Danish gambling market stood at DKK10.1bn in 2022, a fall of 2.8%. This means that the rise in retail and land-based gaming did not compensate for the overall decline in digital gaming.

Denmark gambling revenue dominated by online segment

The report also found that 60% of all games in Denmark were played using online channels such as computer, smartphone and tablets.

“Although the majority of Danes’ games take place online, the Gambling Authority of course still supervises the physical gambling market in, among other things, casinos and in gambling halls and kiosks”, said Spillemyndigheden director Anders Dorph. “It is important that the law is observed, both in online and physical games.”

The report also highlighted that Danish consumers over the age of 18 spent an average of DKK2,350 on gambling activities in 2022. Overall, this means that Denmark had the 12th highest gambling spend in Europe.

When compared just to the Nordic countries, Denmark has the lowest average gambling spend, with Sweden, Norway, Finland and Iceland all exhibiting a higher totals.

Of the other Nordic countries, only Sweden has the same system of multi-operator licensing as Denmark. Finland, Norway and Iceland all have instead a monopoly system with a significant grey market.    

However, the recently installed Finnish government has pledged to introduce a licensing model by 2026.

Under the three-year deal, BK8 branding will appear on the front of players’ shirts through to the end of the 2025-26 season.

BK8 will invest in a series of brand activations and benefit from advertising opportunities including assets at the team’s Villa Park home. These assets will be given to charitable organisations to display promotional messages.

The deal also includes another charitable element, whereby BK8 will make a contribution per adult third shirt sold to a local charity.

“Being able to give something back to the supporters for their dedication is a hugely significant part of the reason we want to be involved with a prestigious institution,” BK8 EMEA managing director Michael Gatt said.

“As a brand working in football for the last few years, we have committed to working closely with our partners’ local community initiatives and ensure we continue our commitment to delivering on our ambitions in this area. 

“We will work tirelessly to make an impact in this area with a number of programs across the region that engage with supporters locally and on a global scale.” 

An Aston Villa spokesperson added: “We look forward to exciting collaborations together that will help to grow both brands, particularly within Southeast Asia.”

Shirt sponsorship ban

The deal comes despite Premier League clubs in April collectively agreeing to halt gambling sponsorship on the front of matchday shirts.

The withdrawal of shirt gambling sponsorship will come into effect from the end of the 2025-26 season, meaning deals with operators can stay in place until that date.

Villa’s new deal with BK8 will conclude at the same time as when the ban is due to kick in.

The Premier League also said it would look at working with other sports on a new code for responsible gambling sponsorship across the professional sports sector.

Earlier this month, Newcastle United downgraded its deal with offshore gaming operator Fun88.

Fun88 served as the team’s principal partner since the 2017-18 season but will now focus on efforts to drive the club’s growth in Asia.

Last Thursday, lawmakers in the Rhode Island House and Senate voted to approve the state’s igaming bill into law. After this, the bill was sent to Gov. McKee’s desk, with today being the deadline for the governor to sign or veto.

The governor opted to sign the bill with just hours left before time expired. This means that online slots and table games will be live in the state from April 2024.

“This legislation provides an added convenience to Rhode Islanders who would like to play the existing table games offered at Twin River via their mobile devices,” said the bill’s sponsor and president of the senate Dominick J. Ruggerio .

“This is a focused version of igaming that is ready for implementation. This igaming legislation is constitutional, is geared to mature users, contains education provisions for problem gamblers, and preserves the revenue allocation percentages as they are currently in place.”

The law extends the current Bally’s monopoly over casinos in the state to igaming, meaning that the company’s online arm Gamesys would be the sole operator active in the state. The business operates under a number of brands including Virgin Casino, Tropicana Casino and Rainbow Riches Casino.

The law imposes a 50% tax on online slot revenue with the remainder divided between Bally’s and IGT. Meanwhile table games are to face a lesser 18% revenue tax.

Access to mobile sports betting in Rhode Island is to be limited to those aged 21 years old and older, in line with the state’s land-based laws.

In February, it was reported that Bally’s helped write the bill that has now became law. The operator has confirmed the news in a statement.

Rhode Island Division of Lottery to regulate igaming

Igaming is to be regulated in the state by the Rhode Island Division of the Lottery, which currently oversees the Bally’s two casinos in the state. The activity will therefore be under the purview of the organisation’s director, Mark Furcolo.

The text of the law empowers the director to develop “reasonable” rules and regulations for igaming in the state.

The law states that geolocation technology will be used to ensure that a player is physically in the state. However, it also outlines certain circumstances when a player is permitted to bet out of state. The law allows this to take place when the RI Division of the Lottery has entered into a reciprocal agreement with another state regulator.

Extension of no-bid contract

In 2021, state legislators voted to approve a law that provided the operator and its IGT gaming supplier a 20-year no-bid contract to run both the land-based casinos in the state: Bally’s Twin Rivers Lincoln Casino Resort and Bally’s Tiverton Casino & Hotel. Under the text, the contract will end in 2043.

Igaming is currently only legal in six states: New Jersey, Delaware, West Virginia, Pennsylvania, Michigan and Connecticut. The segment is often considered to bring in more revenue than sports betting, which is regulated in many more states than online casino.

In December 2022, the existing government said land-based casino tax rates would increase with effect from 1 July this year.

This included the non-rebated duty rate rising from 17.91% to 20.25% and rebate duty rate increasing from 10.00% to 12.50%. 

In addition, poker machine duty rate would switch from a flat 20.91% rate to a tiered system. This ranged from a 0% rate on machines making under AU$2,666 (£1,418/€1,658/US$1,813) a month, up to 60.67% for machines with over $12,00 monthly revenue.

At the time, the existing government said this could raise an additional AU$364.0m over the period from 2023-24 to 2025-26.

While the increases were not legislated, they were written into the budget and inherited by the current government as a legacy policy upon election in March. Since then, the government has held discussions with casinos about implementing the new tax rates.

To permit these conversations to continue, the government said that it plans to pursue the legislation following the forthcoming Parliamentary winter recess.

Flawed approach

However, the plans have been met with criticism from some quarters. Robbie Cooke, chief executive and managing director of land-based casino operator Star Entertainment Group, branded the proposed increased as “flawed” and “not sustainable”. 

“This proposed duty increase was policy on the run by the former Treasurer, was ill-conceived with no consultation and had no regard to the capacity of our Sydney operation to afford the impost,” Cooke said.

“If implemented as originally proposed, the additional duty would significantly challenge the economic viability of the Sydney business and put the jobs of up to 4,000 hard working Sydney employees in jeopardy.”

Cooke did note that Star appreciated the engagement of the government over the issue and said it would continue with talks regarding future legislation and changes.

“We will continue to engage with the new NSW government to guarantee the jobs of our team members while working hard to implement the significant reforms required to restore The Star to suitability and to ensure it remains a valuable contributor to the NSW economy.”

“Deteriorating” conditions for Star

Should the government proceed with the tax increases, this would pose another challenge to Star at a time when the business already faces a number of obstacles. 

In April, Star announced it would engage cost and restructuring initiatives after it warned it is experiencing “significant and rapid deterioration in operating conditions”.

Star has been the target of multiple parliamentary inquiries into misconduct and had set out plans to restructure due to the compounding impact of regulatory operating conditions and exclusions. When combined with an “emerging weakness” in consumer spending, Star said this has led to this adverse environment.

The business also said that its Star Sydney casino – representing the largest single source of revenue for the group – “continues to operate in an uneven competitive environment” due to the impact of ending its junket affiliations.

Personalisation and gamification continue to shape consumer preferences. As a result at EveryMatrix anticipate a future that embraces more in-game and cross-game gamification solutions, with particular emphasis and innovation within jackpots.

According to Egaming Monitor, in 2022 alone, a staggering 6,780 casino games launched, 87.5% of which were slots. 

To keep up with this fast-paced industry, at EveryMatrix we launched nearly 300 new games every month for our casino clients. However, amidst this abundance of content, our own data indicates that only 2% of casino games currently feature in-game jackpots, indicating ample room for growth and innovation.

Recognising the potential of gamification and its impact on player engagement, we anticipate a shift towards integrating in-game and cross-game gamification elements, such as customisable jackpots.

This evolution will not only enhance the player experience, but also enable operators to leverage gamification as a powerful branding and promotional tool.

Focus on the individual

We believe the future of gaming will revolve around captivating players with functionality that focuses more on them as individuals. By adding personalised and interactive features to jackpots, slots can be elevated from one-dimensional products to multi-layered experiences.

For many years we have delivered various gamification tools in the bonusing space. But in anticipation of current consumer trends we developed JackpotEngine, a cross-game jackpot solution that enables brands to configurable jackpots to any game, creating multiple forms of additional excitement to existing content. Here’s a closer look at how we’re building around what today’s players want. 

Personal Jackpots: Elevated engagement and loyalty

Today, personalisation lies at the top of consumer expectations. Recent research by Shopify found that 73% of consumers expect brands to understand their unique needs. McKinsey & Company found 71% anticipate personalised interactions.

Therefore, considering the shifting consumer landscape, it is crucial to understand the significance of gamification and personalisation in the igaming industry. 

What’s more, Euromonitor identifies gamification as one of the 10 key trends in its Global Consumer Trends 2023 report. 

Other studies including from McKinsey & Company show that brands that embrace personalisation have experienced 40% faster growth than their counterparts.

Casino accounted for 39% of the revenue in Europe’s igaming market in 2022, according to the European Gaming & Betting Association. It is therefore evident brands must invest time and resources in further understanding their players to improve acquisition and retention rates. 

A long-term marketing tool

Jackpots offer a long-term marketing tool for operators to promote specific content and prolong games’ lifecycles. They offer an ideal solution in regulated markets, allowing operators to both remain compliant and when faced with certain limitations on traditional bonusing and marketing strategies.

The potential for jackpot personalisation marks the next layer of innovation, presenting brands with exciting opportunities to captivate players and drive long-term loyalty.

This is where Personal Jackpots come into play, taking this concept to new heights by offering every player his or her tailored jackpot prize.

These innovative features adapt to individual players’ preferences, budgets, betting levels, and playing styles. These can be configured in any way the operator chooses to, added to any game and designed for specific players or segments of players in mind.

By tailoring the jackpot experience to each player’s unique needs, personalised jackpots create a deeper level of engagement and foster greater loyalty. This also unlocks a new realm of customised gaming experiences that resonate with players on a profound level.

Company-level jackpots: Differentiating operators, amplifying rewards

Company-level jackpots are a cross-game gamification solution we expect to see much more of in the future. These empower operators to stand out in a crowded market while creating substantial player prize pools.

By combining contributions from players across multiple brands, these jackpots entice and engage a broader player base. 

For instance, if a company has 10 brands, players from all 10 domains can contribute to the size of the jackpot, amplifying the excitement and spreading the value across brands. These cross-domain jackpots foster a sense of community and enable operators to differentiate while offering unparalleled winning opportunities.

Time to embrace gamification and personalisation

As the casino content landscape continues to expand, operators must embrace the power of gamification and personalisation to remain competitive.

The promising future of customisable jackpots lies in their seamless, cross-game integration and their ability to transcend individual titles, creating captivating and immersive gaming experiences. 

By leveraging advanced gamification tools and catering to player expectations, operators can differentiate from competitors, maximise player engagement, and forge lasting connections with their audiences.

The future is bright for those who embrace the possibilities offered by cross-game gamification. It can transform jackpots into truly rewarding, multi-layered and personalised experiences for players and operators alike.

I’ve been thinking quite a lot recently about the fate of Ivan Toney, the Premier League footballer recently banned for betting offences.

I can’t help but arrive at the conclusion that not only has he been treated harshly, he has been mistreated. A huge opportunity was lost for both the gambling industry and the Football Association (FA) in England.

In case you’re not familiar with the story, Toney is a striker who has worked through the divisions to end up with Brentford. It’s one of London’s smaller football clubs, but one punching way above its weight. 

He recently earned a call-up to the full England squad, and it was fully deserved; he’s had a superb couple of seasons for his club and is a very different option to the usual selections.

Toney’s momentum checked by gambling ban

Toney recently received an eight-month ban from the game after an investigation by the FA revealed he had breached their betting rules 232 times in just under four years, a period in which he played for four different clubs. The ban was reduced from 11 months after he was revealed to be suffering with a gambling addiction.

There’s a lot to look at here and it brings the game’s relationship with gambling back into the (negative) light, yet again. Brentford is one of the Premier League clubs sponsored by a gambling firm, after all. What are we saying to the players – everyone else in the stadium can bet on this thing you can see all over the stadium and on all of our shirts, but you can’t? 

Toney was found to have bet against his own club on several occasions, and also on games he was playing in – though those bets were always to win. Talk about backing yourself. But as a professional athlete, he really should know better. Fair enough, that’s a costly error. 

I digress a little bit.

Toney has been diagnosed as a gambling addict, but frankly unless those numbers are only a small part of the picture, whichever operator he bet with is not going to see signs of addiction. Over four years he has bet 232 times – that averages out at 58 bets a year. That’s not an indicator of disordered gambling. 

But as far as I am aware, there has been no other information emerge about his disordered betting patterns. The diagnosis comes from some interviews with a psychiatric specialist from the FA who has declared him an addict.

What lessons can we learn from Toney’s case?

Some cynics may speculate whether he played the game a little to reduce the ban.  But let’s assume he is not playing the game. Let’s assume this is above board and we have a high profile gambling addict. How could this have been handled better?

Well, first off, banning him is harsh for a number of really good reasons. Sure, stop him from playing, but he is also banned from training at the club. What this does is isolate the player, and how can that be good? 

You’re taking him out of his natural peer support group; since when is that good for an addict? His club wants to support him but now their input is going to be limited as well. He can’t even train until September, four months before the ban ends. 

This is effectively four months in solitary confinement for someone that the FA has just declared – in the national press – is an addict and needs help. He is also, as I write this, injured – so right this second he needs to rehab then do a lot of hard, focused work. Except he can’t train. How does that work? That’s damn close to cruel and unusual punishment.

The player’s union, the Professional Footballers’ Association, said after the ruling: “It is crucial that players are properly supported in taking the steps to seek help, and that processes covering punishments for gambling in football take proper account of the wellbeing of players.“

Support? What support?

How is this supporting Ivan Toney? It’s an opportunity to educate the entire group, to show them that it can affect anyone, and that help is nearby. That can be extended to the entire family of supporters around the club too. 

It’s a big miss, frankly, and the player is being cast adrift to a large extent. If these bodies are serious about supporting him, educate, educate, educate, treat, support, assist, and get him on board to educate kids, teens, other players… Basically, once again, if it’s a problem, then treat it like it’s a problem. 

Go 0-60 as fast as you can on it. Don’t just hang him out to dry when he can be a walking, talking example for other players and fans of the game.

Brentford’s excellent manager Thomas Frank said: “Football and gambling’s relationship needs a review.  We got a massive reminder. Do we do enough to educate our players? The authorities have a massive task to make sure we do this much better. 

“If I can’t speak to him, I guess they will have to ban me as well. If I am not allowed to support him there must be something wrong.”

A better way to tackle things

But what have we missed, as an industry? This is a chance to review procedures, a chance to look anew at information, to look at everything we do – except we can only do that if we’re given some information. So we have to be happy to be demonised, yet again, without access to the information that would help us remedy the problem. 

Who did Toney bet with? One operator or lots? Was there anything in his betting patterns that might suggest a problem? Did he ever have to do KYC or proof of funds? Did the operator(s) know he was a footballer? Should there be any punishment to an operator that took these bets? What’s in place to stop issues like this happening again? If someone has to declare their affiliation when opening or maintaining an account, or if the operator has to keep an eye on this, why not exclude athletes from betting on their own sport, anywhere in the world? 

As an industry the fixes are pretty easy, but it means transparency at both ends of the conversation – or rather, it means actually having a conversation, ideally with the FA and PFA to see how this can be avoided in future and the integrity of the sport can be maintained. That’s in the best interests of every party involved, after all.

It’s opened a can of worms, sure, but it’s time to put on our Big Boy pants and pick up a fork. Nom nom nom.

Main image: Ivan Toney by Ardfern, distributed via CC BY-SA 4.0

Under the deal, BetVictor will title sponsor of eight tournaments during the 2023-24 WST season.

These events will include the four BetVictor Home Nations Series events and the BetVictor European Series, as well as the BetVictor Championship League.

Money earned by players in the eight events will be tallied on the BetVictor Series Rankings. The list leader after the eighth and final event will earn the £150,000 (€175,471/$191,639) bonus.

‘An outstanding partner’ for snooker

“We have worked with BetVictor for many years and they have been an outstanding partner for our sport,” WST chairman Steve Dawson said. “We are thrilled to continue working with them on a wide range of tournaments during the 2023-24 season.

“Snooker has an extraordinary global reach through our vast broadcast and digital audience, extending to every corner of the planet. BetVictor have joined us on that journey, providing them with huge exposure for their brand worldwide.”

BetVictor’s head of sponsorship Sam Boswell added: “We are delighted to continue our long-standing sponsorship of snooker with eight BetVictor titled tournaments. And of course the BetVictor £150,000 bonus race, which has been incredibly popular with players since its creation in 2020. 

“We are looking forward to some great drama on the table over the next 12 months.”

BetVictor rebrand

The renewal comes after BetVictor last week revealed its new group corporate identity, with the business to rebrand as BVGroup.

The group said its new name will reflect the business’ position as a multi-brand gambling operator and B2B technology solutions provider.

BVGroup will also launch a new logo and corporate website to reflect its name change.

Issued by the Isle of Man Gambling Supervision Commission, the new licence will allow EveryMatrix to work with operators and third parties in regions around the world.

The permit will cover the supply of EveryMatrix’s range of igaming technology and services.

“The Isle of Man is one of igaming’s most reputable licensing regimes and we are pleased to have been granted a software licence to further accelerate our expansion into new territories,” EveryMatrix chief executive Ebbe Groes said.

“EveryMatrix is experiencing record growth across all our core areas of casino, sports and platform and securing licences in both established and emerging regulated jurisdictions is a key part of our future growth plans.”

Nathan Lunt, strategic partnership manager of Digital Isle of Man, an executive agency within Isle of Man government’s Department for Enterprise, also welcomed the news.

“The Isle of Man is home to a collection of successful and diverse igaming and software businesses and this is testament to its proposition which offers an experienced regulator and robust, mature licensing regime,” Lunt said.

“As home to some of the most influential companies in the industry, the Isle of Man has proven itself to provide unrivalled benefits for igaming companies seeking a licence, whether they be a start-up, SME or multinational organisation.

“At Digital Isle of Man, we are proud to be able to support businesses, such as EveryMatrix, every step of the way. We are delighted to welcome EveryMatrix to the Island’s ecosystem.”

Business growth

The licence comes after EveryMatrix in March also secured a supplier licence in Sweden. This came ahead of 1 July, when having such a licence will be mandatory for all suppliers looking to offer their services to operators in the country. 

EveryMatrix’s new gaming software licence in Sweden has a five-year term.

In other news, EveryMatrix last week revealed that it had exceeded more than €4.00bn (£3.42bn/$4.37bn) in monthly turnover across its CasinoEngine platform.

EveryMatrix reached the milestone in May, it also surpassed four billion monthly game rounds during the same month.

Monthly casino turnover hit €2.00bn in May 2021, before rising to €3.00bn in February 2023 and €4.00bn just three months later in May. The provider took four years to reach the two billion rounds mark in July 2022, but doubled this figure in the 11 months that followed.

EveryMatrix also noted that monthly gross gaming revenue increased 50% over the last eight months. Revenue reached €150m in May this year, having hit €100m in November 2022 and €55m in June 2020.

The lotteries have faced criticism in recent years, including as to how this form of gambling is used to fund political parties in Sweden. Concerns have also been raised over how political lotteries have exemptions from credit bans, bonus restrictions and gambling tax.

The review will consider whether the rules that apply specifically to lotteries for the benefit of party political activities are justified and appropriate.

This will include consideration as to whether current regulations should be changed to offer greater protection to players. In addition, the review will look at if licences should be granted to such lotteries at all.

The inquiry will review the lotteries’ exemption from, among other things, credit bans, bonus restrictions and tax liability. The investigation will also look at proposals that will require a full declaration of funding from lottery games.

“Openness and transparency are important prerequisites for a democratic society,” the government said. “This applies not least to the question of how political parties are financed. 

“The gambling market is surrounded by extensive regulations against the background of the need to reduce the risks of the social harm that gambling can entail. Large parts of the regulations for games have been fundamentally changed in recent years.

“It is important to maintain a high level of trust in the political system and that political power is not used to create undue advantages.”

Gunnar Larsson, the former consumer ombudsman and director general of the Swedish Consumer Agency, will lead the review.

The assignment must be reported no later than 29 February 2024.

Changing regulations

The inquiry comes as lawmakers in Sweden consider a number of other changes to current rules and regulations related to gambling.

This week, a proposal to increase penalty fees for gambling operators that breach the country’s Money Laundering Act was put forward.

The proposal would adjust penalties to the same maximum amount for violations of the Gambling Act.

At present, the maximum operators can be fined for breaching the Money Laundering Act is much lower than for Gambling Act violations. The memorandum said this is “unsatisfactory” as in many cases, violations of the Money Laundering Act can be considered more serious than those related to the Gambling Act.

Swedish regulator Spelinspektionen also announced it is to obligate owners of supplier licences to pay fees from 1 July.

Spelinspektionen will charge an organisation that holds a licence to supply gaming software to operators in Sweden a fixed fee. The regulator requires businesses to pay a separate fee for each licence it holds unless it receives a specific exemption.