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Svenska Spel Complaining About Competition

Complaint follows another lacklustre half-year for Swedish state-owned gambling group.
Lennart Käll, chief executive of Svenska Spel, has once again complained about the competitive online gambling market in Sweden, voicing his strong concern over what he claims is "uncontrolled" development.
As before, his complaint follows a lacklustre performance by his company in the half-year to end June 2015, where Svenska Spel again posted year-on-year losses.
The company reported H1 results:
* Net gaming revenue down 2.4 percent at SEK4.3 billion;
* Net income down 1.1 percent to SEK2.3 billion;
* Little change in operating income from last year at SEK3.3 billion;
* Operating margin up 1 percent to 22.6 percent;
On a quarterly basis, compared to Q2-2014, this year NGR remained even at SEK 2.2 billion, whilst operating income was up 4.7 prcent to SEK1.1 billion, and operating margin increased 1.7 percent to 22.5 percent.
Käll appealed to the Swedish regulator to do a better job of protecting the market against unlicensed and unauthorised operators.
“We call for swift and concrete measures from both politicians and authorities to ensure that the Swedish gaming market is healthy and safe,” he said.

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Gambling News :

Wanajump Launches - #Wanajump Spanish online and land gambling operator Grupo R. Franco appears to be emulating the William Hill group, announcing this week that it is to begin a start-up accelerator program for innovative entrepreneurs, which it has titled Wanajump.

Coral Launches player proposition betting product - Digital Sports Tech, a business-to-business software provider of sports betting solutions, has signed a deal with UK online and land sports betting operator Coral to provide an innovative player proposition betting product.

Oshi online casino now accepts fiat currencies - The Oshi online casino, which started just a year ago as a Bitcoin-denominated operation, has described its expanded activity in a statement this week, noting that in addition to Bitcoin it now accepts fiat currencies and has added new game providers to its roster of suppliers.

New Standards for UK Online Gambling - Online gambling service and technology providers, along with operators and testing agencies will be studying the new gambling software and technical standards proposal published by the UK Gambling Commission following a public consultation.

Pennsylvania Gambling Bill 1887 returned with additions - The interaction between the Pennsylvanian House and the state Senate has become increasingly like watching a game of ping pong as the two political establishments wrestle with online gambling legalization and court-ordered tax fixes in the dying days of the current political season.

UKs Advertising Standards Authority vs Ladbrokes - A Ladbrokes Casino email promo has fallen foul of the UKs Advertising Standards Authority who deemed significant terms and conditions concerning bonusing to be unclear or misleading.

Mybet Earnings Struggle - The statement this week reveals that Mybet continued to be hampered by negative trends from historic quarters, making its original performance estimate "unrealistic".

Tom Horn Awarded Malta Gaming License - Online gambling software provider Tom Horn Gaming has been awarded a Malta Gaming Authority license that permits the company to host and manage Malta-based gaming operators.

Calvin Ayre invests in new Antigua Business Center - Ayre joined with government officials this week in a ground-breaking ceremony for a five-story centre on Antigua which will be home for the venture. The "green" building will be solar powered and provide employee-friendly services like catering, a gym and child care.

Attack of the Zombies Slot - Online gambling games developer Genesis Gaming has unveiled its latest game, with a theme based on a horror story of the undead, exploiting the current trend....and just in time for Halloween.

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