It looks like Patrik Hofbauer, the new CEO of Sweden’s gambling monopoly Svenska Spel, is going to have his work cut out for him. Since the country revamped its gambling laws last month, Svenska Spel will no longer be the only game in town and poker players will soon be able to sit down at the virtual felt against players in other countries around the European Union (EU).
The changes officially take place on January 1 of next year. They come following an admonishment made to Sweden by the EU in 2013 over gaming law violations, including failing to comply with a treaty in the union that said countries could not prevent international companies from receiving gaming licenses.
While lawmakers in Sweden shuffled their feet updating the laws, Svenska Spel was able to operate what was effectively a monopoly. Swedes were not able to participate in the international market and Svenska Spel even asked Apple to take down all of its gambling applications from the Apple Store.
Swedish regulators have now determined that the current structure is “not enforceable.” There has been an increase in unauthorized operators in the country and regulators have admitted that the outdated regulations did not do much to protect consumers. Ardalan Shekarabi, Sweden’s Minister for Public Administration, said, “Unregulated gambling has taken over and gambling is used in criminal activities. It is now time for us to move from words to action and regain control of the Swedish gambling market.”