Svenska Spel revenues in decline
Last month Sweden’s gaming authority, Lotteriinspektionen, presented a Lottery Law to the country’s parliament that would punish domestic and foreign online gaming operators who breach new advertising standards.
Under the stricter rules, any unlicensed online company that advertises to consumers in the country could be subject to fines and up to six months in prison if it “intentionally and unlawfully promotes participation in a lottery.”
Online operators have spent a reported SEK 2.6 billion (US$91 million) pitching their sites to Swedish consumers. Foreign operators have bypassed Swedish regulations by advertising with international media owners and taking advantage of EU competition loopholes, reports SBC News.
Last year, Lotteriinspektionen published declining market performance figures for state-owned operator Svenska Spel. The agency said it could not compete domestically with big-budget, unlicensed foreign operators without tighter regulations on advertising.
