Swedish regulator announces audit of major gambling operators

The gambling regulator Spelinspektionen has introduced a new audit of online casino operators.

Under its scrutiny are Svenska Spel, the Maltese company Lotto Direct, and the Swedish Council for Gambling. This all happened during the AB Trav och Galopp (ATG) horse races.

The regulator is checking whether operators have complied with the Swedish Gambling Act of 2018. This included an important point for gambling license holders: to inform Spelinspektionen of any changes in their applications or registrations. The conclusions of the investigation and possible penalties will be announced at a later date.

A little bit of background: Recently, the Linköping Administrative Court overturned a SEK 100 million fine imposed by Spelinspektionen on Svenska Spel Sport & Casino. This was due to a breach of duty of care identified in the transactions of 10 customers who suffered significant losses between October and December 2021. 

According to Spelinspektionen, Svenska Spel Sport & Casino failed to take appropriate measures to prevent excessive gambling (which is a violation of the Swedish Gambling Act of 2019).

Subsequently, Svenska Spel and ATG reported a decline in their financial results for the first quarter. ATG’s net income from horse racing, sports betting, and online casinos in Sweden and Denmark amounted to SEK 1.2 billion (8% less than in the previous year).

Svenska Spel’s net gaming revenue fell 4% to SEK 1.88 billion amid the closure of two of its three Casino Cosmopol land-based casinos in February last year.