NetEnt signs Svenska Spel as new customer with Swedish gambling re-regulations on the way
With the re-regulation of Sweden’s gambling market approved by the Swedish parliament on 7th June 2018, the existing gambling industry is getting ready to go online including Svenska Spel, the most established operator and the largest sponsor of sports in Sweden. It was last week NetEnt announced it has signed a contract with Svenska Spel ahead of the Swedish market re-regulation.
NetEnt enters Swedish gambling market
While deregulation and reregulation of national gambling laws is taking place in many European countries, the iGaming industry is clearly looking forward to one of the largest industries to open up officially. Online gambling has been a grey area in Sweden for many years, but it was on the 7th of June that the Swedish parliament, Riksdagen, approved the re-regulation of Sweden’s gambling market. The new legislation comes into force on January 1st, 2019.
NetEnt obviously welcomes the re-regulation in Sweden. Expansion in locally regulated markets is an important part of NetEnt’s business strategy. Such regulated markets accounted for 35% of the revenues in the third quarter which will continue to increase with new markets still opening up as political initiatives to regulate online gambling market are also underway in the Netherlands and in Switzerland.
NetEnt aims to be ready to operate together with its partners on the day of market opening. An important day for NetEnt and operators already active on the market. These operators will then be in the possession of a casino license creating a better environment for both players and iGaming companies involved. The new gaming law is forcing all qualified operators to obtain a casino license.
NetEnt’s expansion into the Swedish gambling market
NetEnt aims to be ready to operate together with its partners on the day of market opening. So far two important developments took place ahead of Swedish market re-regulation.
Early in October, NetEnt was selected as supplier to ATG for the re-regulated market in Sweden. NetEnt signed an agreement to supply its award-winning online casino games to Sweden’s main horse racing operator AB Trav och Galopp (ATG) as soon as the new Swedish gambling law takes effect on January 1st, 2019.
And now, end of October, NetEnt announces it has signed a contract with Svenska Spel as well. Thanks to the customer deal with Svenska Spel Sport & Casino AB a wide selection of NetEnt’s games will be available for their players from January 1, 2019.
Henrik Fagerlund, MD NetEnt Malta Ltd. and Chief Product Officer of NetEnt comments: “I am very pleased that Svenska Spel has selected NetEnt as supplier ahead of the Swedish market re-regulation. Svenska Spel is the most established gambling operator and the largest sponsor of sports in Sweden. We really look forward to a close collaboration to deliver best-in-class digital casino games to Svenska Spel’s customers.”
Svenska Spel is Sweden’s largest gambling operator, with well-known brands such as Lotto, Triss, Stryktipset, Oddset, Vegas and Casino Cosmopol. Svenska Spel was formed in 1997 through a merger of Tipstjänst and Penninglotteriet. Svenska Spel is the largest sponsor of sports in Sweden on all levels. The group also include Casino Cosmopol and Sweden’s four international casinos.
”NetEnt was an obvious choice when selecting an online casino supplier ahead of our re-regulated market entry on January 1st, 2019. We are convinced that NetEnt will deliver casino games of the highest quality and become a very important partner for us,” says Fredrik Wastenson, MD and Head of Business Unit, Svenska Spel Sport & Casino.