The Swedish iGaming industry is preparing itself to launch in full with 26 newly-issued licenses to various established operators across the industry. From GiG to 888, to Betfair, and Cherry, there are brands of note that are coming to Sweden at the turn of the year.
Sweden to See 26 iGaming Operators Launch in 2019
The national iGaming regulatory body, the Lotteriinspektionen, managed to issue another 26 licenses this week, almost 60 since it announced that the country would officially become iGaming-friendly, allowing online casinos to bring their operations as long as they were willing to jump a few legal hoops to secure a license.
Sweden has already seen an influx of top-names make their move on the country, including but hardly limited to:
- Cherry Casino
- Gaming Innovation Group
There have been significant legal procedures that needed addressing, too, but all companies had been more than happy to meet the regulator demands. With a synchronized start as early as January 1, 2019, Swedish operators will start vying for a share of the market.
Although, the licence applications have involved a considerable amount of work, we are convinced that the Swedish regulations provide better conditions for gaming operators, our customers as well as for us as a company and therefore also for our shareholders – Cherry CEO Gunnar Lind
Gig Own the Game
Each flagship company has a number of underling brands, which will make separate appearance and work as friendly competitors. For instance, the Gaming Innovation Group (GiG) will launch Rizk, Guts, Highroller, Thrills, Kaboo and Betspin, which all offer specific iGaming experience, tailored to the preferences of gamers.
All of this is part of the company’s recent announcement that it has been granted two Swedish licenses.
This move is likely intended to cover different market corner as well as properly gauge the viability and profitability of individual segments. GiG CEO Robin Reed didn’t miss a chance to highlight the benefits of the Swedish re-regulated market, with the company continuing to invest in technology and people in order to be at the forefront of the gaming experience.
Sweden, a Vibrant Market
Integration into the market has been one of the main goals of a number of multi-brand companies looking to ensure a place under the Swedish sun.
With the majority of gaming licenses all sorted out right now the Lotteriinspektionen will still put some extra hours during the Christmas holidays to ensure that everything is ready for launch on January 1, 2019.
Until now, there has been a massive exodus of Swedish customers who readily opted for the offshore industry. However, the unregulated operators come with poor customer protection and social responsibilities, which makes it damaging to participants in the first place.
The first licenses were issued not so long ago, with the regulator granting 12 brands the right to run online activities on November 30, 2018.
First to make the cut were some of the best-established and native companies, including the state-owned Svenska Spel, LeoVegas, Casumo, Kindred Group, and Betsson. Now that their number has increased significantly, Sweden is drawing closer to 2019 which will be action pack with iGaming activity.
Update: In the previous version of the article we claimed that 28 licenses had been added. That was wrong. The actual number is 26. We’re sorry.