Swedish Gambling Authority (Spelinspektionen) has proclaimed that they have imposed an SEK 100 million fine against Kindred Group for not complying with the Swedish Gambling Act laws regarding bonus and other incentive offers.
This breach of regulation dates back to early 2019, when Swedish regulated gambling market was still quite new (it opened on January 1st 2019).
Kindred’s wholly owned subsidiary, Spooniker Ltd, has received an official warning, beside the financial penalty for offering customers financial bonuses that are not allowed according to laws and gambling legislation of Sweden. Some of their competitions and promotions must be regarded as financial incentives – that is, as bonuses.
Kindred has interpreted these bonuses differently, at first point…
…but Spelinspektionen has disputed this after which the company adopted a more restrictive interpretations of Swedish laws in the spring of 2019.
Kindred has said that it will appeal against this decision by the regulator. The company will continue with the adopted interpretation as recently issued warnings and fines issued to other license holders are enforced in court.
The operator deems Swedish Gambling Act too vague in areas related to commercial activities…
…and said it creates “unnecessary ambiguity.” Kindred says it would wish more clarity in this regard and “will continue to improve the operations to ensure full compliance.”
The company runs five different brands in Sweden: Unibet, Maria Casino, iGame, Bingo.com and Storspelare.
Kambi Grows in the US
Recently, Kambi has further expanded in the United States with jurisdictions of Iowa, Mississippi, New York and New Hampshire.
The company has published financial Q4 2019 report that shows a stable growth and a positive trajectory beforehand. The brand was already operational in Pennsylvania and New Jersey and their EUR 92.3 million revenue is, in part, thanks to the successful integration in the USA.
Another Live Casino Launched in Sweden
Soft2Bet’s YoYo Casino has been successfully launched in Sweden in mid-March.
The casino will feature the live dealer section as well as a range of welcome bonuses for new members.
Says COO of Soft2Bet, Uri Poliavich:
“Our first launch in Sweden is a historical moment for Soft2Bet, and a product of uncompromising dedication from our executives and our team.”
Expanding our customer base is of the utmost importance at Soft2Bet, and we look forward to offering the YoYo experience to our Swedish audience.”
“Kindred receives sanction fee from the Swedish Gambling Authority”, Kindred PR, March 20, 2020.