Sweden’s Ministry of Finance has proposed that the country’s gaming regulator, Spelinspektionen, double the cost of renewing an online casino or sports betting operator license to around $60,400 per year.
In an official Monday press statement, the government agency stated that this proposal is only one of several included in a planned amendment to the country’s Gaming Ordinance of 2018. Interested parties now have until May 9 to express their views via an ongoing public consultation.
Provision by the provider
Of importance to note is that Sweden legalized a wide range of iGaming activities in January 2019. According to the Ministry of Finance, the proposed levy increase is part of the country’s aim to create a landscape with “strengthened gaming regulation,” according to the Ministry of Finance. Sweden, the most populous country in Scandinavia, is also planning to introduce an introductory license for online gaming software and games makers, with an annual fee of around $12,000.
In terms of the final plan, the government department confirmed that it would seek to force business entities operating outside of the European Economic Area, which includes the European Union and Norway, Iceland, and Croatia, to retain a “physical representative” in Sweden.
The above isn’t all. According to the Ministry of Finance, these revisions might take effect as early as March of next year and may include a provision allowing the Spelinspektionen watchdog to tax licensed businesses up to $3,000 for any modifications to their certifications. However, the government noted that this price would not apply to any company wishing to change its postal address. At the same time, software suppliers may be required to pay around $80 each time a new ‘physical representative’ is appointed.
As part of this new system in place, the Ministry of Finance stated that the Spelinspektionen should be permitted to charge operators an undefined fee “for the supervision exercised by the authority.” The Ministry of Finance further went on to say that it wants this to be accompanied by a demand that licensees provide information on their actions to the watchdog so that it may strengthen its “supervisory duties.”
“Some other amendments to the Gaming Ordinance are also proposed due to the new requirement for a license for gaming software. It is proposed that a requirement be introduced for those who have a permit for gaming software to save data for as long as is necessary for the Spelinspektionen to be able to exercise its supervision,” read a statement from Sweden’s Ministry of Finance.Spelinspektionen Sweden