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Swedish Gambling Market Commission Proposes More Restrictions on iGaming

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Swedish Gambling Market Commission Proposes More Restrictions on iGaming
Swedish Gambling Market Commission Proposes More Restrictions on iGamingReading Time: 2 minutes

 

The Swedish Gambling Market Commission (Spelmarknadsutredningen) has delivered a report on the country’s igaming regulations. Led by special investigator and former MP, Anna-Lena Sörenson, the report has recommended several stricter controls on the market including a proposal that the national regulator Spelinspektionen should implement a risk classification for gambling products.

The report suggests that games classified as the highest risk should be banned from advertising between 6 am and 9 pm. It also proposes that Sweden should make permanent the SEK5000 deposit limit that has been temporarily imposed for online casino games during the Covid-19 pandemic.

Other proposals include the introduction of a law laying out reporting requirements for operators and a relaxation of bonus restrictions for gaming operators that generate funds for charity, such as lotteries, to enable them to better compete against private operators. It also suggests greater controls on unlicensed gaming, which is now subject to a separate enquiry.

The report rejected proposals for statutory levels on horseracing and other sports betting. It also concluded that the Gambling Act was not the correct tool to include controls on loot boxes in video games, which it said should be studied at the European Union level.

“This has been a complex assignment that has touched on a large number of different issues linked to gaming regulation, which in some cases have required difficult trade-offs. I believe that the proposals we come up with today can both contribute to strengthening consumer protection and make regulation more appropriate,” Sörenson said.

“Spelmarknadsutredningen’s report will form an important basis for the Government’s forthcoming measures,” Ardalan Shekarabi, Minister for Social Security, said.

However, the operator association Branscheforenigen för Onlienspel (BOS) expressed alarm at the report’s recommendations.

Gustaf Hoffstedt, secretary-general of BOS, said: “Sweden has invested in a licensing system with 102 operators that offer a high level of consumer protection.

“They pay around SEK4bn annually in gaming tax, invest in workplaces and staff, sponsor Swedish sports and contribute to Swedish technology know-how.

“Banning licensed gaming companies from marketing their services to Swedish consumers while leaving unlicensed companies free to offer their services to Swedish consumers is a bad proposal.

“This only leads to reduced consumer protection and to erode the Swedish gaming market.”


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Swedish Gambling Market Commission Proposes More Restrictions on iGaming

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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UK-based PE Mansion Sports Announces Partnership with Billiards Legend Efren ‘Bata’ Reyes to Launch Billiards eCommerce Site

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Mansion Sports, a leading private equity firm based in the UK, specializing in investments across sports facilities, sports news portals, and sports entertainment, has announced its partnership with billiards icon Efren ‘Bata’ Reyes, coinciding with the launch of Mansion Sports Billiards, an eCommerce platform catering to global billiards enthusiasts. This strategic move underscores Mansion Sports’ commitment to elevating the billiards experience worldwide.

The partnership encompasses a series of events and tournaments showcasing high-level billiards play, as well as projects aimed at fostering a deeper connection with the sport’s enthusiasts. With Reyes’s involvement, these initiatives are poised to deliver thrilling matches and dynamic gameplay, leaving a lasting impact on the billiards community.

To kickoff the partnership, Mansion Sports unveiled Mansion Sports Billiards, an eCommerce site offering premium billiard products globally. Featuring high-quality cues, stylish tables, and top-notch accessories, the platform aims to enhance enthusiasts’ playing experience. Initially rolling out in Vietnam, Mansion Sports Billiards plans for global expansion.

Reyes, renowned for his  exceptional skill and long-standing dominance in billiards, joins Mansion Sports as Brand Ambassador. This partnership will leverage Reyes’s stature in the billiards community to bolster Mansion Sports’ presence through various events and initiatives.

“We are honored to have Efren ‘Bata’ Reyes as a Mansion Sports Brand Ambassador and are excited to work together to bring the sport of billiards to new heights. said Denis Keet, Managing Director of Mansion Sports.

“We believe that Reyes brings decades of experience and a storied career to the partnership. His achievements have not only earned him numerous titles and awards but also a substantial fan base and respect within the sports community,” Keet added.

The post UK-based PE Mansion Sports Announces Partnership with Billiards Legend Efren ‘Bata’ Reyes to Launch Billiards eCommerce Site appeared first on European Gaming Industry News.

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Zitro Redefines Gaming with Innovative Entertainment at FIJMA Madrid

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Zitro, a global leader in gaming entertainment, is not just creating games; it’s crafting success stories that echo around the world. Known for its high-performance games and innovative gameplay, Zitro is set to transform the gaming narrative yet again.

This year, Zitro will showcase its latest advancements at the FIJMA Madrid, inviting attendees to experience a spectacular lineup of products that push the boundaries of conventional gaming. The event will serve as a stage for Zitro’s newest offerings, particularly its video slots and video bingo games, which have already proven profitable in Spanish Gaming Halls, Bingos, and Casinos.

Visitors to Zitro’s booth will encounter the cutting-edge designs and unique gameplay that only Zitro can provide. The company prides itself on its ability to blend engaging entertainment with profitable outcomes, ensuring that every game is a masterpiece of form and function.

Moreover, Zitro Digital will take center stage with its array of online games that promise to revolutionize player engagement and challenge perceptions of traditional and digital gaming environments. This segment demonstrates Zitro’s commitment to innovation and its continuous effort to create immersive experiences that are not just games, but enduring stories loved by players across the globe.

Join Zitro at FIJMA Madrid to discover how it continues to rewrite the history of gaming, one successful story at a time.

The post Zitro Redefines Gaming with Innovative Entertainment at FIJMA Madrid appeared first on European Gaming Industry News.

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Kambi Group plc repurchase of shares during 29 April – 3 May 2024

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Kambi Group plc (“Kambi”) has during the period 29 April to 3 May 2024 (the “Buyback Period”) repurchased a total of 55,000 ordinary B shares (ISIN: MT0000780107) as part of the share buyback programme, within the mandate approved at the Extraordinary General Meeting on 19 June 2023 (the “Programme”).

The objective of the Programme is to achieve added value for Kambi´s shareholders and to give the Board increased flexibility with Kambi´s capital structure by reducing the capital. The Programme is being carried out in accordance with the Maltese Companies Act, the EU Market Abuse Regulation No 596/2014 (“MAR”), Commission Delegated Regulation (EU) No 2016/1052 (“Safe Harbour Regulation”) and other applicable rules.

During the Buyback Period, Kambi repurchased a total of 55,000 ordinary B shares at a volume-weighted average price of 99.16 SEK. From the beginning of the Programme, which started on 18 March, until and including 3 May 2024, Kambi has repurchased a total of 322,086 ordinary B shares at a volume-weighted average price of 92.87 SEK per share.

During the Buyback Period, Kambi has repurchased shares as follows:

Date Aggregated daily volume (number of
ordinary B shares)
Weighted average
share price per day (SEK)
Total daily transaction
value (SEK)
29 April 2024 10,000 96.73 967,274
30 April 2024 10,000 100.53 1,005,343
2 May 2024 20,000 99.41 1,988,268
3 May 2024 15,000 99.54 1,493,090

All acquisitions have been carried out on Nasdaq First North Growth Market in Stockholm by Carnegie Investment Bank AB on behalf of Kambi. Following the acquisitions and as of 3 May 2024, Kambi’s holding of its own shares amounted to 1,217,678 and the total number of issued shares in Kambi is 31,278,297 ordinary B shares. Under the Programme Kambi is authorised to repurchase a maximum of 3,127,830 ordinary B shares, up to a maximum amount of €4.0 million.

A full breakdown of all transactions carried out during the Buyback Period is attached to this announcement.

Information on the Programme is available on Kambi’s website, https://www.kambi.com/investors/share-information/

The post Kambi Group plc repurchase of shares during 29 April – 3 May 2024 appeared first on European Gaming Industry News.

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