Following the opening of the Swedish online gambling market in 2019, Vivaro and Fair Play Bets obtained licenses for online betting and online gaming respectively in 2020.
In their first twelve months of operation, both licensees reported a turnover of SEK0, leading to supervisory cases being opened against them by the regulator, Spelinspektionen.
Vivaro explained that its launch had been delayed due to the Covid-19 pandemic and conflicts in its home country of Armenia, which impacted its staff availability. However, Vivaro expressed its commitment to entering the Swedish market from late August, emphasizing the need for proper preparation due to the careful regulation in Sweden.
As for Fair Play Bets, it had halted operations in other jurisdictions like Malta to focus on restructuring the business and reducing costs. With the completion of the restructuring and anticipated capital injection, it aimed to launch in Sweden by early 2022.
Unfortunately, Spelinspektionen decided to revoke the licenses of both operators since they had not commenced operations within a year, which was a provision under the Gaming Act. The regulator deemed a warning to be insufficient in this case.
In addition to license revocations, Spelinspektionen issued new money laundering guidance for licensees, providing clarity on routines, procedures, and training protocols in response to industry requests. This came after the regulator had ordered Evoke Gaming, owned by William Hill, to re-verify manually verified accounts to ensure compliance with registration requirements.
