Paf passes Swedish Gaming Authority regulatory check
The nation’s regulator conducted a supervisory investigation into three companies over the summer.
Key points:
– All three companies successfully passed the checks
– Gambling organisations in Sweden are subject to regulatory check every 12 months as required by law
Sweden’s gambling regulator Spelinspektionen has announced that three companies, Paf International plc, Burstit Ltd and LeoEx Ltd, were subject to a successful supervisory investigation over the summer of 2024.
Matters have now officially concluded, with the investigation revealing that all three companies currently meet the required standards for operation within the country of Sweden.
As per the nation’s gambling law, all control, testing and certification protocols are required to be renewed annually. As such, Paf International plc, Burstit Ltd and LeoEx Ltd underwent gaming, technical and business systems analysis earlier this year – with each organisation passing without any issue.
This latest development will come as welcome news to Paf, which celebrated a successful year of operation in 2023 – with financial results released in May revealing a 7% uptick in revenue to €177.1m ($191.7m) for the company. Subsequently, this revenue rise also resulted in record profit figures.
More recently, Paf launched a joint venture with Yggdrasil in Spain for the new SpeedyBet brand in late September.
In June, four gambling companies were banned from operating in Sweden by the regulator for operating without licences. Itsfail Ltd, Teamfail Limited, NewEra BV and Jer-Team NV all lost the right to yield gambling operations in the country.
More recently in the region, The Swedish Trade Association for Online Gambling (BOS) proposed that private companies should be allowed to run land-based casinos following the news that the Casino Cosmopol’s final site in Stockholm would be closing.
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