In Sweden and the boss for the nation’s newly-privatized AB Trav och Galopp (ATG) horseracing operator has reportedly criticized the government for failing to make locally-licensed sportsbetting firms financially contribute to its sport.
According to a report from the news domain at iGamingBusiness.com, Hasse Lord Skarploth serves as Chief Executive Officer for the former state-run entity with his reproach coming just days after local online gambling pacemaker Svenska Spel AB inked a deal that will see it run a new horseracing betting service in partnership with French horseracing firm Pari-Mutuel Urbain (PMU).
The news domain reported that Skarploth is unhappy new legislation designed to liberalize the Scandinavian nation’s iGaming market does not require local sportsbetting firms to hand over any of their proceeds to help support the Swedish horseracing industry. Although he purportedly welcomed the advent of a more open gaming industry, he moreover detailed that the country’s horse owners, breeders and racers benefit from his own firm’s annual contribution of around $222.7 million.
Reportedly read a statement from Skarploth…
“We can live with the fact that the recently agreed partnership means competition for ATG as that is how it should be. But the fact that the state’s own gaming company does not feel the need to contribute to the Swedish horseracing industry and also tries to attract Swedish horseracing customers away from local racing, thereby further reducing the contribution that keeps the sport alive, is more difficult to digest.”
The ATG head reportedly moreover explained that he is hoping that the government will now require all locally-licensed iGaming firms offering horseracing markets to pay a portion of their revenues towards supporting the sector. He furthermore pronounced that this ‘re-regulation’ may come following the conclusion of an official investigation set to look into ways of improving iGaming legislation that came into force from the first day of 2019.
Skarploth reportedly declared…
“It is quite obvious really as Swedish racing gets 90% of its income from gaming activities in contrast with other sports in Sweden that are financed through state and municipal grants and rights income. Without our contribution, there is no prize money, no research, no breeder premiums and no maintenance of the courses. Without our contribution, there is simply no horseracing on which to bet.”