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BOS Claims Swedish Banking Institutions Have Suspended Services Provided to Licensed Gambling Operators

Published

5 years ago

April 26, 2021

Reading Time: 3 minutes

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.”

Baltic Tech Week

HIPTHER Baltics Announces Riga Event and Strategic Partnership with LexLegas

Published

12 minutes ago

January 19, 2026

Wladimir P.

hipther-baltics-announces-riga-event-and-strategic-partnership-with-lexlegas

HIPTHER is thrilled to reveal Lex Legas as a Strategic Partner for the HIPTHER Baltics conference series, which includes Vilnius, Riga, and Tallinn. The collaboration incorporates LexLegas’s extensive knowledge in cross-border regulation, compliance, and high-risk legal structures into the targeted Baltic series.

Updated Date for Riga – Baltic Tech Week
The date for the Riga conference has been officially updated to 11 May 2026 (instead of the previously stated 12 May). The conference will remain the inaugural event of Baltic Tech Week in Riga.
After a robust debut set for 21 April 2026 in Vilnius, and prior to the Tallinn edition later in the series, HIPTHER Baltics: Riga strengthens HIPTHER’s dedication to locally anchored, high-quality discussions throughout the Baltic region, uniting regulatory, legal, fintech, and gaming participants around the most significant issues.

A Tactical Alignment: Lex Legas
Lex Legas is a specialized legal consultancy and research-oriented legal brand focusing on iGaming, fintech, payments, AML/CTF, and international regulatory frameworks, emphasizing Baltic, EU, and high-risk regions.
Integrating practical legal experience with regulatory investigation and strategic guidance, Lex Legas collaborates closely with operators, payment processors, software vendors, and international advisors engaged in regulated and semi-regulated sectors. Their expertise spans:

iGaming & betting regulation (EU & non-EU jurisdictions)
AML/CTF frameworks, risk assessments, and compliance structuring
Payment solutions, PSP integrations, and fintech regulatory analysis
Licensing, corporate structuring, and operational legal support
Regulatory trends, enforcement practices, and supervisory expectations
Cross-border legal risk management for high-risk business models

Lex Legas functions where law, compliance, business strategy, and technology converge, transforming intricate regulatory demands into practical, business-focused solutions. The company assembles a new wave of attorneys from the high-risk arena, known for addressing intricate regulatory and operational issues where conventional methods fail.

“At Lex Legas, we work daily at the intersection of regulation, technology, and high-risk business models, exactly where today’s iGaming, fintech, and payments industries are being shaped.

HIPTHER Baltics stands out as a rare platform that goes beyond surface-level discussions and creates space for real, jurisdiction-specific conversations around compliance, licensing, player protection, and operational risk.

Partnering with HIPTHER for the Baltics series feels like a natural extension of our mission: translating complex regulatory frameworks into practical, business-ready solutions. We’re excited to contribute our research-driven perspective and hands-on experience to the dialogue in Vilnius, Riga, and Tallinn, and to help shape meaningful cross-border discussions across the region in 2026” – The Legal Experts of “Lex Legas” Team

HIPTHER Baltics 2026 – Three Capitals, One Vision

The HIPTHER Baltics series brings HIPTHER’s signature focus on regulation, compliance, fintech, and innovation to the heart of the Baltic region through three targeted, one-day conferences each hosted in a Baltic capital and built around locally-relevant themes with regional and cross-border impact.

“HIPTHER Baltics is built as a focused conference series for the region — not just a one-off event. From Vilnius to Riga and Tallinn, our goal is to create a high-level platform where regulators, legal experts, fintech leaders, and gaming stakeholders can connect around the real topics shaping the market: compliance, licensing, payments, player protection, and cross-border operations.

That’s why partnering with Lex Legas feels like a perfect match. Their research-driven approach and hands-on expertise in iGaming, fintech, and regulatory frameworks across the Baltics and beyond brings exactly the depth and clarity we want to deliver through the entire series. We’re proud to welcome them as a Strategic Partner and look forward to building meaningful, practical conversations together in 2026.” — Zoltan “Hawkie” Tundik, Co-Founder & Head of Business, HIPTHER

More information & tickets: https://hipther.com/events/baltics/

The post HIPTHER Baltics Announces Riga Event and Strategic Partnership with LexLegas appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

BTG

BTG’s Monopoly Rush Hour gets exclusive Gamesys launch ahead of global release

Published

12 minutes ago

January 19, 2026

Wladimir P.

btg’s-monopoly-rush-hour-gets-exclusive-gamesys-launch-ahead-of-global-release

Are you ready for Monopoly Rush Hour? Mr Monopoly is back and revving up the roads in the latest release from Big Time Gaming.

Monopoly Rush Hour will go live exclusively with Gamesys brands on 19 January, before going on global release on 03 February 2026.

Monopoly Rush Hour sees players step into the fast lane, where each spin begins with each Token starting on the four corners of the board while Houses and Hotels are randomly distributed across the board.

Every Token can randomly boost its Multipliers up to a massive 500x.

Tokens spring into action wherever dice symbols appear on the Hat, Boat, Car or Dog – the dice roll determines how far each Token moves and for every three spaces travelled, the Token’s Multiplier climbs by +1.

If a Token lands on a space with a House or a Hotel, players win a Prize – these are Multiplied by the stake and the Tokens Multiplier.

This being Monopoly, there are Chance and Community Chest Card Bonuses in play. If as Token lands on either, one of the following outcomes is revealed:

Move to a random position
Move three spaces forward
Move three spaces backward
Award a Prize Bonus (multiplied by the Token’s multiplier)
Trigger Free Spins

With the Free Spins, players get an initial 12 Free Games plus six Extra Spins for every additional trigger. During Free Spins, Token positions and Multipliers persist, keeping the momentum building.

Hit the Water Works or the Electric Company and players scoop up an Instant Prize worth the Token Multiplier times the stake. Landing on Train Stations means retriggers, awarding 1, 3, 7 or 15 Extra Spins when 1, 2, 3 or 4 Tokens land there.

During Free Spins, Tokens that land on Chance or Community Chest reveal cards with one of three powerful Boosts. This includes:

Advance 2-12 spaces ahead
Increase the Multiplier meter by 2-12 steps
Add 2-12 Houses to the board

What’s more, when every property is upgraded to a Hotel, the excitement peaks as each Token’s Multiplier gets a huge +50 to +250 boost.

If players want to supercharge the action, they can tap the Power Play icon – this guarantees a dice roll and costs 8x the stake. For those who can’t wait to pass GO, tap the Bonus Buy icon and head straight to 12 Free Spins for 110x the stake.

Nik Robinson, CEO of Big Time Gaming, said: “Monopoly Rush Hour is our latest Monopoly branded game, offering high speed action with plenty of Multipliers, Free Spins and big wins on the board.

“We are thrilled to see players at Gamesys casinos be the first to step onto the board ahead of the game’s global general release.

“This is a true Big Time Gaming slot – a big brand combined with striking visuals, compelling game play, extreme volatility and massive win potential.”

The post BTG’s Monopoly Rush Hour gets exclusive Gamesys launch ahead of global release appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

AI

Primero Games Uses XGENIA for Their First AI-Generated Slot Game

Published

12 minutes ago

January 19, 2026

Wladimir P.

primero-games-uses-xgenia-for-their-first-ai-generated-slot-game

XGENIA, the creator-first AI platform revolutionising game development, and Primero Games, a leader in retail and online gaming solutions, today announced a landmark collaboration that brings to life Primero’s first AI-generated slot game: Blackbeard Bounty. Developed entirely using the XGENIA platform, the game will debut — fully playable — at ICE Barcelona 2026, showcased at Stand 2Y22, where XGENIA is co-exhibiting alongside Storm Games, a UK-based studio acquired by Primero in 2022.

This partnership marks a significant milestone in Primero Games’ strategy to expand aggressively into the digital iGaming market by leveraging cutting-edge tools that reduce development cycles and maximize creative output.

“With XGENIA, we didn’t just speed up development — we completely reimagined the process,” said Barry Rutherford, CEO of Primero Games. “Our new AI-built slot is more than a game — it’s a statement about how we’re blending tradition with technology to lead the next wave of interactive content. ICE Barcelona is the perfect stage to launch it.”

XGENIA’s AI-native platform allows studios like Storm Games and operators like Primero to build production-ready slot games using drag-and-drop workflows, AI-generated logic, and instant deployment tools — all without traditional coding.

“We built XGENIA for creators who move fast,” said Mark Flores Martin, CEO of XGENIA. “Primero Games immediately understood the vision. Their team saw that with AI-first tools, they could go from concept to playable slot in days — not months. That kind of alignment is exactly why this partnership works.”

Building on the 2022 acquisition of Storm Games — a move that brought UK development expertise and creative IP into Primero’s portfolio — this collaboration uses XGENIA’s latest features to bring Blackbeard Bounty to life, complete with AI-driven animation, compliance-ready maths, and backend logic.