The Ministry of Finance in Sweden has proposed tough amendments to the existing gaming licensing framework, issuing a memorandum that calls for the imposition of a hefty SEK120,000 ($12,400) fee on anyone applying for a gaming software licence.
In addition, the Ministry has requested that the cost of renewing an existing online gaming and betting licence should be doubled to SEK600,000 ($62,000). Further amendments include a vague requirement for gaming software licence holders to save data for as long as necessary, in order that the Swedish Gambling Authority (SGA) can exercise its supervision, and the authority to charge a fee form any supervision conducted. Finally, the Ministry has proposed that any licensee not based within the European Economic Area must have a physical representative who is resident in Sweden.
These new proposals are now subject to a consultation period until May 9th this year and if approved, will be formally entered into law on March 1st, 2023.
In its statement, the Ministry of Finance said: “The proposal aims to gain control over software development and gives the Swedish Gambling Authority a new tool in the work of excluding unlicensed gaming from the Swedish gaming market. The exclusion of unlicensed gambling is a prerequisite for being able to ensure a high level of consumer protection and that gambling takes place with responsible actors.”
