It appears that the gambling monopoly of Svenska Spel in Sweden is coming to an end after the mounting pressure experienced by the Swedish Ministry of Finance from the European Commission.
About a year ago the Commission said that it was taking the country to the top count of the European Union because it failed to update its restrictive gambling rules and regulations and make them compatible with the EU policies. A month ago, the Ministry of Finance said that it would thoroughly review the gambling framework in order to live up to the demands of the European gambling industry nowadays.
Sweden is a member of the European Union where the gambling industry is monopolized and gaming and betting operators outside its borders are not allowed to offer their services and products in the country. Moreover, they frequently get into conflict between Svenska Spel and Lotteriinspektionen, the gambling monopolist and regulatory body in the country.
The services offered by Svenska Spel are also going to be reviewed. In the first half last year the monopolist reported a drop in sales by almost 5% compared to the same period in 2013. Lennart Kall, the CEO of Svenska Spel, reportedly said that the company welcomes the government’s inquiry partially because under the new licensing system only operators holding a Swedish gambling license are allowed to accept wagers from Swedish players.
The deadline for making changes and establishing new gambling laws in the country that meet the requirements of the European Union is September 2018 when the next General Election is going to take place.