Kindred Group applies for a gambling license in Sweden

Kindred Group a leading online gambling operative has made a formal application to The Swedish Gambling Authority for a license. This is with regards to the operation of online wagering and gambling services in Sweden. Should the application be a success, it will enable Kindred Group to further toughen its assurance to the Scandinavian nation.

Kindred Group – Official Press Release

Formerly known as Unibet Group, Kindred Group was established two decades ago. To date, they have worked towards the transformation of gambling guidelines in Sweden. This includes providing players with a safe and secure betting environment.

A serious occasion in that endeavour took place this year on the 7th of June when the new Gaming Act SFS 2018:1138 was passed by the Swedish Parliament. They will be giving Sweden a new, re-regulated gambling industry. New license system will take effect in Sweden from the 1st of January 2019.

New gambling regulations include

The division of the gambling industry into three parts;

• The 1st part being covering online betting and gambling. One part covers gambling with public benefits like lotteries and local based bingo. The other part will be controlled by the Swedish state like the locally based casinos and also the token machines.

• Gambling operatives that are granted a license must always protect gamblers from extreme gamblingv

• A license holder can only offer a bonus at the beginning of the event.

• Licensed operatives are taxed 18 percent of the profit they make on betting in Sweden. Gambling that benefits the community will remain free of tax.

Henrik Tjärnström, the CEO for Kindred group said-

“It is filling that we can take this significant step towards fair and equal terms in the Swedish gambling market. Also competing on the same level as the other operators. Kindred always applied good effort to understand what customers want. Moreover the top gives players the best gambling experience in a safe and secure atmosphere and with the uppermost responsible gambling standards.”

Upon the approval of its license request, Sweden will be the Valletta, Malta-based Company’s 13th locally licensed industry. The business holds licenses in Belgium, Australia, Romania, Denmark, France, Estonia, Germany, Gibraltar, Italy, Ireland, Malta and the United Kingdom.