SVENSKA SPEL ONLINE POKER EXPANSION NIXED (Update)
9 November 2007
Request to join Boss Media in providing poker to a
WLA monopoly refused
Swedish news publication The Local.se reports that the
Swedish government has turned down a proposal from its
gambling monopoly Svenska Spel to provide online poker
services to an unidentified European member of the World
Lottery Association.
Svenska Spel had planned to partner with online poker
software provider Boss Media in "exporting" online poker
services for the country concerned (see previous
InfoPowa reports) despite its claims that its own
monopoly was a good vehicle to control the expansion
problem gambling.
The Local reports that instead of approving the
proposal, it has suggested that Svenska Spel carry out
an internal, ongoing investigation into the existing
license, which is due for renewal in June 30, 2008.
Until that investigation is complete, the government has
decided not to allow the further expansion of Svenska
Spel's online poker services. The government apparently
stressed that the social impact of gambling had
precedence over profits.
Third quarter 2007 results at the Swedish monopoly
recently showed a 1.4 billion Swedish kronor ($215
million) profit. Overall profits for the first three
quarters of this year were in excess of 4 billion SEK -
up 19 percent compared to 2006.
The Swedish government is currently under pressure from
the European Commission to cease its monopolistic
gambling activities and open up the growing and
lucrative Swedish market to fair competition from other
EU member states.
Online Casino News courtesy of
InfoPowa
More news here.
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