Latest News
Gambling Tax Income Boosts The Swedish Economy
Swedish gambling licenses are notoriously strict – however this is for very good reason, and the state has been careful to make sure that all applicants and licensees follow the rules carefully. One of the rules? All gaming companies registered with the Swedish government for the purposes of offering online gambling must pay tax on their income in Sweden. But how has this benefitted the Swedish economy since then?
This tax income is critical in ensuring a steady revenue stream for the country – as in some US states they use tax revenue to better fill the treasury, or to create funds for social projects. Over the course of 2019 and up until 2020, gaming companies had paid up a total of SEK 923 million – a huge number given the amount of time the law has been in action.
However, actual numbers may be even higher than this – with numbers as high as SEK 1.8 billion being touted by professionals in the regulatory body. This is twice as much as the initial estimates – and we can only assume that this will increase further as time goes on, through a combined income of taxes, application fees, renewal fees, and other administration monies to be paid to the Swedish government.
According to Norskespilleautomater, Swedish regulations have had a huge impact on licensees in the country. Although online gambling usage has increased throughout 2020, we’ve seen that operators are reporting a drop in income from players. This is most likely due to the new deposit limit laws and possibly on bonus caps not enticing players so much.
However, as changes to regulations are rolled out slowly across Europe – notably Germany’s upcoming gambling laws, Portugal’s laws against bonuses, and various quickly-implemented anti-gambling laws put into place over the course of the pandemic in Europe – we can only hope that Sweden’s strict-yet-flexible approach helps more operators function in the legal market. This makes gambling safer, more fun, and ultimately more profitable for the Swedish government as time goes on.
SOURCE: Norskespilleautomater.com
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1X2 Network
1X2 Network launches in Finland via Veikkaus deal
Initial rollout brings 10 slots from Iron Dog Studio and Prospect Gaming to the state-owned operator, via Light & Wonder.
1X2 Network has entered the Finnish market after signing a content partnership with Veikkaus, Finland’s state-owned gaming operator.
Under the agreement, a selection of titles from 1X2 Network studios Iron Dog Studio and Prospect Gaming will go live for Finnish players for the first time. The initial rollout includes 10 games, with named titles including 3 HOT CHILLI PEPPERS, 3 PORKY BANKS HOLD and WIN EXTRA, BURN IN HELL, and PIÑATA GO GO.
1X2 Network said the integration was enabled through its collaboration with Light & Wonder, which is supplying the route to market for the content.
Kevin Reid, Chief Executive Officer at 1X2 Network said: “We are delighted to partner with Veikkaus and bring our games to players in Finland. Veikkaus has built a strong reputation as a trusted and responsible operator, and this launch represents an exciting opportunity for us to introduce titles from our flagship studios, Iron Dog Studio and Prospect Gaming to a brand-new audience.”
Riikka Seppänen, VP, iCasino at Veikkaus said: “We are pleased to welcome content from 1X2 Network to our platform. Their games offer engaging gameplay and popular features that we believe will resonate well with our players while supporting our commitment to delivering high quality and responsible entertainment.”
The post 1X2 Network launches in Finland via Veikkaus deal appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Digital Wallets
Neosurf reorganises operations as it targets Europe and the Americas expansion
Neosurf has reorganised its operations as it prepares to scale products and expand across Europe and the Americas, the cash-to-digital payments provider said.
The company said the updated structure is intended to better support the rollout of “new market-ready products” and help it deliver its payment solutions “on a wider scale.” Neosurf did not disclose what specific organisational changes were made or whether the move affects headcount.
Neosurf also positioned the reorganisation as a way to improve agility in response to future regulatory changes, saying the company aims to remain flexible operationally and technologically as it moves into its “next major phase of its evolution.”
Andrea McGeachin, Global CEO at Neosurf, said: “As we continue to grow our new digital wallet products across Europe and the Americas, it’s important that our organisation evolves alongside our ambitions. Our new structure ensures that we’re built for agility, resilience, and long-term success, and we remain committed to our mission of bridging the gap between cash and digital payments with an optimised foundation that’s built to proactively anticipate and adapt to future regulatory change.”
Neosurf said it will share further updates on its plans “shortly.”
The post Neosurf reorganises operations as it targets Europe and the Americas expansion appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
appointments
GameOn appoints Fana Colette as Senior Social Media Manager
GameOn has appointed Fana Colette as Senior Social Media Manager, as the B2B marketing agency expands its social media service capabilities.
Colette joins from Gambling.com Group, where GameOn said she helped grow social pages to “tens of thousands of followers,” combining creative storytelling with commercial objectives.
GameOn positioned the hire as a response to increasing demand for social media strategy across iGaming operators, suppliers and affiliates looking to differentiate in a crowded market. The company said Colette will add senior oversight to structured, audience-focused content planning.
In the role, Colette will work with GameOn’s existing clients and lead social media strategy for new accounts, according to the company.
Lizzie Thomas, Head of Social Media at GameOn, said: “Bringing Fana on board allows us to support the growing demand for sophisticated, senior-led social strategies.
“Her experience in building social profiles from the ground up and developing content that resonates with audiences aligns perfectly with how we approach social at GameOn.”
Fana Colette, Senior Social Media Manager at GameOn, added: “I’m excited to be joining GameOn at such a dynamic time for the business.
“Social media is such an important part of how brands build visibility, trust and engagement, and I’m looking forward to helping clients create content that is both strategically grounded and creatively strong.
“GameOn has a clear understanding of the iGaming space, and I’m excited to contribute to that with thoughtful, audience-focused social work.”
The post GameOn appoints Fana Colette as Senior Social Media Manager appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
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