Marketing from gambling companies in Sweden has declined by 44% since the re-regulation of the market in January.
Sweden.- Sweden’s Social Security Minister Ardalan Shekarabi has revealed that since the re-regulation of the gaming market came into force, aggressive marketing from gambling companies has declined 44%.
Shekarabi said that the realignment has been a success so far. “Many people did not think that we would succeed in getting the companies that are active in the Swedish gaming market,” said the Minister at a press conference, according to Dagens Nyheter.
In 2018, gambling companies invested €682 million in marketing, and so far in 2019 the figure has decreased to €402 million. However, Shekarabi says that the government is still not satisfied with the numbers and will continue to follow developments. “The goal remains to push through legislation that restricts aggressive gaming advertising,” he said.
This investigation was commissioned in order to come up with further restrictions on the gaming market, which are expected to be presented in 2020.
Since the re-regulation on January, the gambling regulator Spelinspektionen has initiated 41 supervision cases and in 28 of them, a decision has been made. The regulator also revoked one licence. “The companies have largely complied with the decisions,” said Ardalan Shekarabi.
Sweden sets new AML reporting system
As part of an attempt to improve its anti-money laundering measures, Sweden is set to introduce a new reporting system.
Spelinspektionen said that on January 13, 2020, the local market will debut the goAML reporting system. This new method will be used to report suspected money laundering and terrorist financing activity.
The regulator said that the new system, which is provided by the United Nations, will increase the quality of reported material for the Financial authorities.
Moreover, it was revealed that the goAML platform will open its registration option on December 9. Licensees will be able to sign up ahead of the kick-off date, although registration is subject to approval from the police. The old reporting portal will be closed on March 1 and licensees will only be able to report through goAML.