Swedish regulator could limit more licences

An administrative court in Sweden has given the local gambling regulator the right to limit the number of licences.

Sweden.- The administrative court in Linköping issued on Monday a total of seven judgements regarding limited licensing time. That court also gives Spelinspektionen, the local gaming regulator, the right to limit the licences.

Spelinspektionen said that the administrative court in Sweden gave them the right to limit the licence period to two years. They also have the right to entirely reject the companies’ appeals over the ruling to limit the licences.

The companies concerned in the seven judgments are 100% owned by Maltese company Co Gambling Ltd, which is also 100% owned by Swedish company Cherry AB, the regulator explained.

The court could also reduce Casino Cosmopol’s penalty fee

The court may reduce a penalty fee on Casino Cosmopol. The gaming operator had breached licence conditions related to money laundering and terrorist financing. Nonetheless, regulator Lotteriinspektionen will likely appeal against the ruling.

The regulator in Sweden handed a nearly €750k fine in November, but the Court could reduce it to €277k. Lotteriinspektionen had identified serious and systematic deficiencies in its four venues.

Appeal

The Svenska Spel subsidiary argued that there isn’t a clear framework that provides guidance to operators. Therefore, it said the penalty isn’t accurate and filed an appeal in December.

Per Jaldung, CEO of Casino Cosmopol, said that Casino Cosmopol complies with money laundering regulations. He said they consider them vital to help prevent money laundering in all its forms.