Satoshi Gaming Group NV removed from Swedish gambling market
Satoshi Gaming Group – otherwise known as Simba NV – has been banned from the market for unlicensed activities.
Key points:
– Sweden’s regulator, Spelinspektionen, has announced the removal of Satoshi Gaming Group from the nation’s market
– The company has been banned for operating in the nation without a licence
Sweden’s regulatory body, Spelinspektionen, has announced the official removal of Satoshi Gaming Group NV from the nation’s gambling market following an investigation into unlicensed activity.
Indeed, following the regulator’s discovery that the group was operating within Swedish borders without any form of Swedish gaming licensure, the crypto casino and sportsbook product developer has now been permanently banned from the nation’s market.
It has been a busy start to the year for the Scandanavian regulator, who fielded numerous regulatory-related requests throughout the first quarter of the year. In February, the Swedish Trade Association Online Gambling (BOS) submitted a request to the Ministry of Finance to amend Sweden’s Gambling Act following its discovery of a legal loophole that allows unlicensed operators to target the nation’s players.
Following on from this, in March, an ATG report highlighted the fact that unlicensed betting in Sweden was continuing to thrive – calling for stronger measures to be introduced by the nation’s government.
Good to know: In related EU regulatory news, Gambling Insider attended the CMS conference in London last week – observing talks from BGC CEO Grainne Hurst and GC Deputy CEO Sarah Gardner
In the wake of these regulatory developments, Spelinspektionen announced moves to close the legal loophole cited by the BOS as part of a new report – posted in April – which aimed to highlight the scale and accessibility of the online black market in Sweden.
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