Swedish regulator to receive additional funding

The government is set to allocate an additional US$2.3 million to fund the local gambling regulator.

Sweden.- Lotteriinspektionen, the gambling regulator from Sweden, is set to receive an additional US$2.3 million annually in funding from the government. The move will provide more support to the body in times of regulatory changes within the Swedish gambling market.

The gambling agency currently receives US$6 million every year from the government to run its gambling regulation operations. While the additional financing still needs approval from legislators, it is estimated that it will provide additional help to the regulator’s changes that are set to take effect in the next few months.

Earlier this month, the government decided to delay the opening of the licensing process that will allow gaming operators to apply for licences. The initial date was set for July 1st, but a new legislation now establishes that the opening will take place on August 1st.

Sweden is expected to adopt a new licensing scheme by January 2019. The government of Sweden sent in mid-December a copy of a draft gambling legislation to the European Commission for vetting. The three-month window gave member states the opportunity to comment on the draft and establish if it was in violation of EU treaties or not. Back in December, the Swedish government said that it was confident that the new market launch date could be set for January 1st, 2019.