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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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MGA Games has announced the launch of its new slot, Sweet Fortune Megaways, in the .com markets on August 25th. This game transports players to Sugarland, a magical universe made of sweets and candy. Set in the city of Candyville, where chocolate rivers and caramel streets create a unique atmosphere, the title features the Megaways mechanic and promises a memorable experience.
The gameplay is full of surprises. Players can enter a majestic candy palace through the Free Spins screen, where prizes multiply and a mini game is activated inside the Grand Prize Hall. This combination of mechanics, setting, and interactive elements has been designed to maximize user engagement.
Among its main innovations are random multiplying Wilds (x2, x3), expanding Wilds, and the Megaways structure, which allows for thousands of possible combinations with each spin. Additionally, this marks the first time MGA Games has embraced a candy-themed slot, aligning with the most popular trends in the gaming and entertainment sectors.
The post Sweet Fortune Megaways: A Sweet Slot with Free Spins and Expanding, Multiplying Wilds appeared first on European Gaming Industry News.
EGT Digital and Bangbet have once again strengthened their collaboration. After the impressive results in Kenya and Nigeria, the customers of the popular operator in Tanzania can now enjoy the Bulgarian provider’s gaming content. Players are able to choose among more than 150 in-house developed slot titles, the crash game xRide, as well as the jackpot bestsellers Bell Link, High Cash, Clover Chance, Single Progressive Jackpot, and Gods & Kings Link.
“I am very happy that our games are already live in another key market for Bangbet,” commented Zsuzsanna Zeibig, Sales Manager for Africa at EGT Digital. “By extending our reach to Tanzania, one of East Africa’s fastest-growing iGaming markets, we expand our brand visibility and further strengthen our strategic position on the continent. Each new step with Bangbet confirms our role as a trusted partner and supports our long-term growth ambitions to reach more players across Sub-Saharan Africa.”
David Kabue Gichuhi, Director of Bangbet, also expressed his satisfaction with the partnership: “EGT Digital’s gaming products continue to demonstrate remarkable performance in all markets where we have integrated them to date, becoming our clients’ absolute favorites. The strong results in Kenya and Nigeria gave us the confidence to bring their content to Tanzania as well, and we are already seeing the same positive impact. This partnership is an important part of our business strategy and we look forward to introducing EGT Digital’s portfolio to players in Ghana and Uganda in the coming months.”
The post EGT Digital’s games are available to Bangbet’s customers in Tanzania appeared first on European Gaming Industry News.
The ELA Games team is attending the event to demonstrate new developments
ELA Games, a dynamic game development studio, announces its attendance at SBC Lisbon, set to take place at the Feira Internacional de Lisboa & Meo Arena from 16 – 18 September.
Attending the event will be:
- Marharyta Yerina, Managing Director
- Oleksii Shulhin, Head of ELA Games
- Yaroslav Soloshenko, Team Lead Business Development Manager
- Petr Vonarshenko, Business Development Manager
- Sadaf Ali, Senior Account Manager
SBC Lisbon is a key annual gathering in the online gaming and betting industry, welcoming over 30,000 delegates to experience innovations, cutting-edge products, and networking opportunities. The ELA Games team will take the global stage to connect with partners, demonstrate its casino-and-player-centric development approach, and reveal new roadmap developments.
At the event, ELA Games will highlight its diverse portfolio, including recent hits from the Winpot series (Joker Winpot, Zeus Winpot, Rabbit Winpot Deluxe), visually rich classics like Juicy Crystal and Flame Fruits Frenzy, and innovative new releases such as Shoot Happens. The team will also preview upcoming titles and discuss recent expansions into important growing markets like Denmark, Sweden, Greece, and more.
Adding to the studio’s momentum, the SBC Awards have nominated ELA Games in the “Innovation in Casino Entertainment (Supplier)” category. The award ceremony will take place on September 18 for a night celebrating excellence and forward-thinking solutions. This shortlisting highlights ELA Games’ ongoing efforts to push the boundaries of online gaming and create new experiences for both operators and players.
Marharyta Yerina, ELA Games’ Managing Director, commented, “We’re always excited to attend SBC events as they’re one of the biggest gatherings of the year where we’re able to see many of our partners and make new meaningful connections. This year, ELA Games has plenty to show the world, as we’ve made numerous additions to our portfolio, developed new mechanics, and pushed ourselves creatively. The team is looking forward to sharing all we’ve been up to, and equally excited to attend the award ceremony!”
ELA Games invites all attendees to visit Stand B350 to chat with the team, explore creative solutions to bolster your content library, and find new ways to engage your player base.
Dates: 16–18 September
Location: Stand B350, Feira Internacional de Lisboa & Meo Arena
The post ELA Games at SBC Lisbon: New Games, Market Growth, and Awards Night appeared first on Gaming and Gambling Industry in the Americas.
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