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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.”

game launches

Greentube adds Piggy Prizes Railroad Rumble to its slot franchise

Published

50 minutes ago

April 28, 2026

Wladimir P.

greentube-adds-piggy-prizes-railroad-rumble-to-its-slot-franchise

Greentube, NOVOMATIC’s Interactive division, has launched Piggy Prizes Railroad Rumble, the latest entry in its Piggy Prizes slot series.

Piggy Prizes Railroad Rumble runs on a 5×3 grid and centres on coin and piggy pot symbols that can be collected and enhanced when the cowboy lands on the centre reel. Greentube said the cowboy acts as a wild and can trigger coin drops that feed piggy pots, which can award Free Games.

The release adds a Gold Train feature that can add and boost coin values and contribute to filling the piggy pots. Greentube said reaching the pots’ limit can trigger Super Free Games, while Free Games keep the cowboy locked on the centre reel and Super Free Games keep the Gold Train sticky on the centre reel.

The game also includes Magic Spin and Magic Rewind modifiers. Greentube said Magic Spins can randomly lock the cowboy or Gold Train on the centre reel, while Magic Rewind gives players another chance to land symbols or jackpots. A Bonus Buy option is available in the base game, which triggers the bonus round once activated.

Richard Ganster, Director of Games Strategy and Games Portfolio Management at Greentube, said: “Piggy Prizes has become one of our standout series because of its ability to evolve while staying true to the core mechanics players enjoy. With Piggy Prizes Railroad Rumble, we’ve introduced a more dynamic setup and layered feature set that enhances both engagement and replayability.

“The combination of familiar mechanics with new modifiers allows us to keep the experience fresh for existing fans while also attracting new players to the franchise.”

The post Greentube adds Piggy Prizes Railroad Rumble to its slot franchise appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

iGaming

Strive Gaming selected to support Resorts World Bet’s New Jersey iCasino launch

Published

50 minutes ago

April 28, 2026

Wladimir P.

strive-gaming-selected-to-support-resorts-world-bet’s-new-jersey-icasino-launch

Strive Gaming has partnered with Genting’s Resorts World brand to support Resorts World Bet’s planned launch in New Jersey’s online casino market, subject to approval by the New Jersey Division of Gaming Enforcement.

Under the agreement, Strive will provide player account management services, including payments, risk management, and fraud detection.

Strive will also support development of the Resorts World New Jersey front end, including use of Strive’s mobile app, and will integrate the operator onto Strive’s “infinity engine” engagement and automation tools.

Max Meltzer, CEO from Strive Gaming said: “I am delighted to add a well-established and high-profile online casino operator such as Genting’s Resorts World to our growing list of partners in North America. Their decision to partner with us for their online launch in New Jersey is testament to the standard of our first-class platform.

“We are certain Resorts World will prove to be very popular with online players in New Jersey, just as it has with land-based players around the world, and that will in-part be driven by our market-leading platform and player account management services.”

Robert DeSalvio, President of Genting Americas East, said: “We are very aware of the success Strive Gaming has seen across North American markets so far, and this makes them the ideal partner for our player account management services.

“We’ve been really impressed by not just their technology but their team depth as well. They understood our needs and they are perfectly positioned to play a key role in our online casino launch in New Jersey. We look forward to working with them for a long time.”

The post Strive Gaming selected to support Resorts World Bet’s New Jersey iCasino launch appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

content distribution

ICONIC21 integrates full game portfolio with Hub88

Published

50 minutes ago

April 28, 2026

Wladimir P.

iconic21-integrates-full-game-portfolio-with-hub88

ICONIC21 has integrated its full multi-vertical content portfolio with Hub88 under a new content agreement, giving Hub88’s operator network access to the supplier’s live casino, slots and virtual games.

Hub88 said the integration was delivered via its Casino API, enabling operators in its distribution network to add ICONIC21 content. The companies said titles are already live across several brands within Hub88’s distribution pool, with further rollouts planned in the coming weeks.

A key launch in the package is ICONIC21’s Gravity Wheel, a live game show title built around fast rounds and always-on multipliers—Saturn, Moon, Comet, and Sun. ICONIC21 said the Sun multiplier offers wins of up to 1,000x.

The agreement also covers ICONIC21’s slot and virtual game catalogue, including Las Piggas and formats such as Crash and Plinko.

“Partnering with Hub88 is a significant milestone that aligns with our focus on speed and product agility. Hub88 is respected for offering a prime environment to its operators, and seeing our full portfolio go live across their network is standing as proof of our shared standards for quality.

We look forward to a long-term relationship built on delivering high-performance content that meets the evolving needs of global players,” said Alina Mihaela Popa, Chief Commercial Officer at ICONIC21.

Hub88’s Head of Supplier Relations Jessica Inglott added: “Our objective is to provide our partners with a competitive edge, and ICONIC21’s catalog does exactly that. The inclusion of unique titles like Gravity Wheel brings a different energy to our offering. The speed at which we’ve been able to roll out these games across multiple brands speaks to the synergy between our technical teams and the quality of the product”

The post ICONIC21 integrates full game portfolio with Hub88 appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.