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BOS Claims Swedish Banking Institutions Have Suspended Services Provided to Licensed Gambling Operators
Gustaf Hoffstedt, secretary-general of the Swedish trade association Branscheforenigen för Onlinespel (BOS), has claimed that all of the country’s major banking institutions have suspended services they provide to licensed gambling operators.
BOS said that “all major Nordic banks” – including SEB, Swedbank, Nordea, Handelsbanken, DNB Nor and Danske Bank – stopped providing services to Swedish-licensed gambling operators at some point this year.
Claiming this is in violation of Swedish law, Hoffstedt has filed a complaint to the country’s Financial Supervisory Authority (Finansinspektionen).
Most of these banks, Hoffstedt said, cited internal risk assessments or Sweden’s Anti-Money Laundering Act (PTL) as the reasons for account closures. The BOS secretary-general added that “in some cases the banks have not stated any reason at all”.
“As far as I am aware, no concrete justification for the dismissals and banks’ assessment has been provided in any case,” Hoffstedt said.
Hoffstedt added that gambling operators cannot function without banking services.
“Online gambling companies are, as stated above, dependent on basic financial infrastructure in the form of banking and payment services to conduct their business,” he explained. “This requires [them] to be able to store customers’ funds as well as receive deposits and make payments to customers.”
He added that the suspension of services meant that operators could no longer use Bank-ID, used to verify players’ identities. This meant they had lost access to a tool that was vital for fighting fraud and money laundering, Hoffstedt.
“Without access to the Bank-ID system, online gambling companies need to use alternative solutions to identify their customers. These solutions risk being neither as effective for companies nor as safe for users,” he explained.
Swedish Banks also provide the Swish payment service, which Hoffstedt said was also “very important” for operators.
Hoffstedt said that the banks’ decisions had worsened operating conditions for the country’s igaming licensees, as well as counteracting the goals of the Gambling Act.
He went as far as arguing that the actions were illegal.
Hoffstedt said banks have a contractual obligation to continue to provide banking services to these customers, unless there is a clear reason to break this agreement. Only in incidents where continuing to provide banking services would violate the PTL, or if the banking customer had committed misconduct, could agreements be broken, he claimed.
While Hoffstedt noted that banks may terminate agreements if they suspect a customer has connections to money laundering, he pointed out the PTL made clear that these assessments are at the customer level. They can, therefore, not be applied on a sweeping basis to a legal industry.
“Given that a large proportion of BOS members also received notice or notice of termination from the banks – all with general and overarching references to the risk of money laundering in the business – it seems obvious that the basis for the dismissals is a general business policy decision rather than a valid application of PTL,” he said.
“Under these circumstances, there is no possibility for the banks to deviate from their contractual obligation.”
BOS requested a dialogue with the Financial Supervisory Authority and said the regulator “should initiate a supervisory investigation of the banks’ handling and possibly intervene against the banks”.
SEB – one of the banks mentioned by BOS – however, argued it was not systematically ending relationships with gambling operators but rather examined the risk for every client on an individual basis.
“We always make an individual assessment of individual client relationships,“ SEB said. “When it comes to gambling companies, we generally have a cautious approach based on the raised risk level, not least connected to risks relating to money laundering and financial crime.”
Danske Bank, meanwhile, denied it had a policy specifically preventing gambling businesses from operating, but did say these businesses undergo a stricter screening process.
“Danske Bank does not exclude banking services for gambling operations as such,” Danske Bank said. “However, our assessment is that the gambling industry in general is associated with high risk and due to that we have tailored screening principles to ensure that the companies operate responsibly.
“In a case where a specific gambling client does not meet the requirements of our KYC-process or ESG-assessment, the ultimate consequence could be that we limit our offerings or refrain from enter into a business relationship.”
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Expanse Studios, a leading B2B iGaming content provider and subsidiary of Golden Matrix Group Inc. announced a strategic partnership with ESA Gaming, an established European aggregation platform specialising in mobile-first gaming content and multi-jurisdictional distribution.
The partnership marks a significant milestone in Expanse Studios’ European expansion and strengthens Golden Matrix Group’s broader B2B distribution objectives. The agreement positions Expanse’s proprietary content across ESA Gaming’s operator network.
ESA Gaming operates a comprehensive Game Aggregator System (GAS) serving over 90 content providers across multiple European markets, with established certifications in Malta, Italy, Portugal, Greece, Colombia and Brazil. The platform maintains a Malta Gaming Authority B2B license (MGA/B2B/650/2018) and specialises in content delivery through a single technical integration as well as custom content through its OpenSlots “no code” game builder.
“ESA Gaming represents an established European aggregator with proven multi-jurisdictional capabilities and strong operator relationships across our priority markets. This partnership provides immediate Malta market access while establishing the technical and regulatory framework for more EU market entries. Our focus remains on building systematic European distribution through partnerships with aggregators and operators demonstrating regional expertise and regulatory compliance capabilities,” said Damjan Stamenkovic, CEO of Expanse Studios.
For Expanse Studios, the partnership with ESA Gaming creates multi-jurisdictional distribution infrastructure across Southern Europe’s most significant regulated markets. ESA Gaming’s top-performing markets—Italy, Portugal, Greece and Brazil—align strategically with Expanse’s priority expansion territories, where regulatory frameworks support sustainable B2B operations and certified content providers maintain competitive advantages.
The post Expanse Studios Announces Strategic Partnership with ESA Gaming appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
MiFinity, the award-winning global payments provider, has launched MiRewards, a premium loyalty programme designed to celebrate and reward its customers. Seamlessly integrated into the MiFinity eWallet, MiRewards transforms everyday payments, top-ups and withdrawals into MiPoints that can be redeemed in-account for cash credits and other exclusive rewards.
Free to join and effortless to use, the programme recognises long-term engagement through four distinctive tiers: Classic, Exclusive, Signature and Elite – with Signature and Elite created especially for MiFinity’s VIP customers, offering enhanced earning rates, dedicated support and exclusive invitations.
Built entirely in-house and free of any third-party software or plugins, MiRewards gives MiFinity complete control over programme design, security and future innovation – from granular earn rules to partner integrations and country-specific experiences. The result is a flexible, data-driven programme designed to deepen engagement, improve retention and add tangible value for customers and merchants across MiFinity’s supported verticals.
Paul Kavanagh, CEO of MiFinity, said: “MiRewards is the next step in MiFinity’s product evolution – a simple, transparent way to give back to customers for the transactions they already make. It reflects our ongoing commitment to rewarding loyalty and strengthening long-term relationships with our customers. Because we built the MiRewards platform ourselves, we have the freedom to keep improving it; from expanding partner offers to introducing new benefits that deepen engagement and enhance retention.”
MiRewards goes beyond traditional loyalty models by rewarding both everyday activity and key milestones. Customers earn MiPoints automatically on eligible transactions and can also collect bonus points for completing actions such as their first deposit, KYC verification, IBAN setup or card verification. This gamified approach makes the experience more interactive and rewarding, giving customers multiple ways to grow their points balance and unlock higher tiers faster.
Key Highlights:
• Always-on earning – Earn MiPoints on eligible eWallet activity automatically.
• Simple redemption – Redeem MiPoints for cash credits in a few taps, with more benefits being added over time.
• Scaled rewards – Higher tiers unlock boosted earn rates and VIP-style perks.
• Bonus opportunities – Collect extra MiPoints for completing key actions, encouraging engagement and gamification.
• Future-ready – In-house platform enables rapid iteration, partner rewards and market-specific experiences.
MiRewards enhances the overall MiFinity experience by giving customers more reasons to engage with the platform and enjoy tangible rewards for their everyday activity. For merchants and partners, that means stronger customer satisfaction, deeper trust and greater loyalty; all within a seamless, secure payment ecosystem that adds value without adding friction.
“Launching MiRewards marks an exciting milestone for MiFinity, but it’s far from the finish line. We have an ambitious roadmap of new features and partnerships ahead that will keep adding value for customers and partners worldwide,” said Paul Kavanagh, CEO of MiFinity.
The post MiFinity Launches Premium Loyalty Programme “MiRewards” appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
capital structure
Gentoo Media Secures EUR 18 Million Shareholder Loan Facility and Provides an Update on the Refinancing Process
Gentoo Media announced the largest shareholders have provided a committed loan facility of EUR 18 million to the Company as part of its ongoing efforts to optimise the Group’s capital structure and enhance financial flexibility. The term sheet has been signed on 26 February 2026.
The purpose of the loan is to reduce the outstanding amount under the Company’s existing revolving credit facility (RCF) to EUR 0 million.
The terms and conditions:
• A EUR 16 million pari passu facility (Maturing 31 December 2027), carrying interest terms in line with the Company’s existing bond terms and ranking pari passu with the Company’s existing bondholders and RCF provider, covenants will be similar to existing bond terms with the expectations to bring the facility down to EUR 14 million by the end of July, and
• A EUR 2 million unsecured facility (Maturing 30 April 2027), carrying interest on terms corresponding to the existing bond terms plus 3% and no covenants requirements.
The company expects the repayment of the current RCF to take place in early March after legal documents has been finalised and signed by all parties.
Management and the Board of Directors consider this solution to be an attractive and supportive financing arrangement that underlines the continued commitment from the Company’s largest shareholders which supports long-term value creation for Gentoo Media.
Bond refinancing
Following an evaluation of market conditions and the terms indicated by investors, Gentoo Media has decided not to proceed with the contemplated bond refinancing at this time. The Company will continue to assess various refinancing alternatives and other measures to address the upcoming bond maturities.
The post Gentoo Media Secures EUR 18 Million Shareholder Loan Facility and Provides an Update on the Refinancing Process appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
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