The gambling regulator in Sweden, Spelinspektionen, announced that it revoked Fair Play Bets and Vivaro’s online gambling licenses. The watchdog supported its decision by saying that the two operators did not record any turnover for the first 12 months of having a license.
Spelinspektionen Revokes the Licenses of Two Operators
Spelinspektionen, the Swedish gambling regulator, announced today that it decided to revoke the licenses of Vivaro and Fair Play Bets. Although the watchdog had the option to rather warn the two operators, it chose to revoke their licenses for online gaming in the country.
Spelinspektionen revealed that a prime reason for the revoke is that none of the two companies have commenced any gambling activities since they received their license. Last year, on July 1, Fair Play Bets received its gaming license from the regulator. On the other hand, Vivaro was awarded a license on June 3, 2020.
The gambling watchdog revealed today that each of the two operators recorded no turnover for the first 12 months of having a license. Thus, Spelinspektionen decided to revoke the licenses instead of warning the duo.
Fair Play Bets Expects Capital Injection to Start Its Swedish Operations
In August, Fair Play Bets submitted an opinion that outlined that the company had not initiated gaming operations in Sweden upon request from the investors that decided to conduct restructuring and “temporary reduction in costs and labor.” The operator revealed that the restructuring is expected to be completed soon and a “capital injection” is expected to be used for gambling activities and developments in new markets, including Sweden. Fair Play Bets revealed that the launch of those activities is expected at the beginning of 2022, or the latest in the middle of 2022.
Vivaro Has Felt the Impact of the Pandemic
In a statement dated August 4, Vivaro explained that the company hasn’t conducted any gambling operations in the country but planned to start at the end of the month. One of the reasons why the operator did not start its operations is the COVID-19 pandemic and the impact it had on its staff.
Additionally, Vivaro explained the difficult position of its staff in Armenia due to the ongoing conflict with Azerbaijan. As an Armenia-based company, Vivaro outlined that it felt the impact of the military conflict, considering that 50 of its employees were sent away to fight.
Last but not least, Vivaro said that it wanted to ensure that it is following all rules and regulations before launching in a “carefully regulated jurisdiction such as Sweden.” It said that it wanted extra time before launching its operations instead of “speeding up the process and putting the license in jeopardy right from the start.“