888 Holdings Plc (LON:888), one of the world’s most popular online gaming entertainment and solutions providers, today announced it has been awarded a licence by the Swedish Gambling Authority to provide online Casino, Sport and Poker services in Sweden.
The licence has been granted for a five-year period and will be effective from when the new regulated Swedish regime commences on 1 January 2019. 888 now holds licences in 11 jurisdictions.
The Swedish online gambling market is expected to reach €1.13bn euros in 2018, according to data from H2Gambling (August 2018). The Group welcomes the new Swedish regulation, which will benefit both customers and operators by supporting an increasingly safe, secure and entertaining gaming experience.
Itai Frieberger, Chief Executive Officer of 888, said:
“Continued expansion in regulated markets is central to 888’s growth strategy, so we are delighted to have been granted a licence in Sweden, ahead of the market’s regulation coming into force in January 2019. Sweden is a significant online gaming market and we look forward to further developing our Casino, Sport and Poker offerings for our Swedish customers, so they can enjoy our innovative gaming products responsibly.
“Underpinned by our proprietary technology platform, marketing strength and CRM expertise, 888 has an outstanding track record of driving growth in newly regulated markets. During the first half of 2018, the vast majority of the Group’s revenues were generated in regulated and taxed markets. We expect this to further increase over the coming years, as more markets regulate online gaming and we continue to leverage our core capabilities to gain market share.”