Swedish and British Gambling Authorities Extend Cooperation
[ad_1]
Spelinspektionen, the Swedish gaming authority, used the industry seminar held on March 5 in Stockholm to extend its collaboration with the British Gambling Commission. The collaboration agreement signed during the event represents an extension of the agreement entered by the two gaming authorities in 2019 to enable the information exchange between the authorities.
Commitment to Safe and Responsible Gaming Practices:
The Swedish Gambling Authority is the legal entity empowered to regulate the Swedish gambling market. The regulatory body is entitled to supervise gambling operation in the jurisdiction to ensure a safe gambling environment and the adherence to responsible gaming practices of gaming industry stakeholders and service users. The Spelinspektionen‘s approach to the Swedish market is based on the regulator’s concern about the consumers’ interests. Therefore the authority prescribes a range of measures and procedures to be followed in the gaming field to minimize the risks of the social harm that gambling can cause.
The regulator’s mission is to facilitate a healthy and safe gaming environment for players through a framework additionally focused to reduce the presence of illegal gambling activities in the Swedish gambling market. Such an approach has been recognized beyond the Swedish market boundaries and resulted in a series of agreements on the exchange of information. Therefore Spelinspektionen has signed these agreements, so-called Memorandums of Understanding, with gaming regulatory bodies in the Netherlands, Malta, and Gibraltar.
2019 Cooperation Agreement now Extended:
These agreements have been running for years now. In 2019, the Great Britain’s Gambling Commission joined and entered a cooperation agreement with the Swedish Gambling Authority to exchange information, knowledge, and ideas available to improve the gambling regulatory framework for the market participants, as well as to raise awareness of the responsible gaming practices among consumers.
The cooperation has seemingly proven beneficial for both regulators as it resulted in the extension of the 2019 agreement. Sarah Gardner, Deputy Chief Executive Officer at the Gambling Commission and Camilla Rosenberg, Director General at the Gambling Authority signed the extension of the cooperation agreement on March 5, 2024 to continue the fruitful exchange.
On the occasion, Camilla Rosenberg, Director General of the Swedish Gambling Authority, reportedly said: The gambling market is global and it is important to have good relations in order to cooperate with other gambling authorities. Although our markets differ, we have many common areas where we can learn from each other and exchange experiences. By working together, we can achieve our common goals of a healthy and safe gambling market.”
Market Support and Control:
The extended Memorandum of Understanding between the Swedish and British authorities comes after the Spelinspektionen reported that the Swedish gaming market generated €2.43 billion in gambling revenue in 2023, slightly lower than in the prior year. The British Gambling Commission presented the Q4 2023 results to report a 4% year-on-year revenue increase to the €1.53 billion level. Gaming revenues achieved in Sweden and Great Britain testify about the two strong markets that need to be supported, as well as controlled by the competent gambling authorities. The cooperation agreement is now extended to facilitate such improvements of both markets.
[ad_2]
Source link