Svenska Spel may appeal against €8.7m regulatory fine
The penalty fee was issued for duty of care failings.
Sweden.- The Swedish gambling regulator, Spelinspektionen, has handed Svenska Spel Sport & Casino a penalty fee of SEK100m (€8.7m) for a series of player duty of care failings dating back to the period between October and December 2021.
The regulator had investigated how the digital arm of the former state monopoly operator dealt with 10 customers who lost money during the period. Spelinspektionen found that the operator’s measures to protect players from excessive gambling had been insufficient. The operator says it may appeal against the decision and suggested that at the time in question, there was a lack of clarity in Spelinspektionen’s guidance.
Svenska Spel’s Sport & Casino CEO Fredrik Wastenson said: “We take the Gambling Inspectorate’s decision to heart. The inspection period covers October to December 2021 and we have already addressed many of the issues. We have high ambitions in our work on gaming responsibility.
“Since the duty of care was introduced in 2019, it has become clearer how it should be interpreted through the Gaming Authority’s guidance and supervisory decisions. We have adjusted our work as the picture became clearer. We are constantly developing our work, our methods and technical ability. Not only to live up to the legislation but also our own high ambitions.”
He added: “In its decision, the Swedish Gaming Authority makes a different assessment, which goes further than what can be deduced from the current regulations. We will now consider whether to appeal the decision.”
Svenska Spel reported steady revenue for 2023 but last month closed two of its three Casino Cosmopol venues amid a decline in land-based casino revenue. The Casino Cosmopol venues in Gothenburg and Malmö closed on February 24, leaving only the flagship Casino Cosmopol in Stockholm. Last week, Svenska Spel appointed Lovisa Ekman as head of IT, while the incumbent in that role, Mikael Franzén, will become head of gaming responsibility and data-driven transformation. Both will take up their new roles on April 1.
