Sweden proposes licensed gambling, largely scrapping monopoly (updated)
05/04/2018 12:40
(Adds detail, background)
STOCKHOLM, April 5 (Reuters) - Sweden's government proposed
on Thursday that the state gambling monopoly largely be replaced
by a licensing system as it looks to rein in overseas-based
online gambling that has surged in recent years.
The rise of online betting has gradually eroded the
monopoly, established in 1934, with other companies able to
operate easily inside Sweden from abroad with online betting.
With the new legislation, the centre-left government aims to
bring foreign-based online gambling companies such as Kindred
Group KINDsdb.ST and Betsson BETSb.ST , which operate from
outside Sweden, under its regulatory sway.
Online gambling firms will pay an 18 percent tax on gross
gaming revenue if the proposal passes parliament, the government
said in a statement. The proposal was largely in line with a
government study unveiled last year. urn:newsml:reuters.com:*:nL5N1H65FS
"The now proposed gambling legislation means that anyone
active in the Swedish gambling market should do so with a valid
license and that actors without licenses will be shut out," the
statement said.
Several of the larger online betting firms have previously
said they are largely positive to the regulatory changes.
Swedish Public Administration Minister Ardalan Shekarabi
told a news conference the legislation would make it a crime to
promote unlicensed gambling, for instance by advertising, while
payments between unlicensed firms and gamblers could be blocked.
Some types of gambling, such as the handful of state-run
casinos operating in Sweden, would remain monopolies. The
legislation is proposed to come into force from the turn of the
year if approved by parliament.
(Reporting by Daniel Dickson and Niklas Pollard
Editing by Mark Heinrich)
((daniel.dickson@thomsonreuters.com; +46-(0)8-700 11 63;
Reuters Messaging:
daniel.dickson.thomsonreuters.com@reuters.net))