Kindred Group has announced its formal application for a licence for the re-regulated Swedish market, which will see the firm commence operations of online gambling and betting services.
Subject to the relevant licensing approvals, Sweden would represent the former Unibet Group’s thirteenth locally licensed market, following the Swedish Parliament voting to re-regulate its gambling market earlier in the year.
Stating that the group has “fought for a modern gambling regulation in Sweden, giving consumers the gambling experience they require in a safe and secure environment,” this new application “is in line with the group’s long-term strategy to operate in locally licensed markets”.
This was highlighted in the groups latest financial reports, which saw 43 per cent of gross winning revenue derived from locally regulated markets at the end of the second quarter of 2018.
Henrik Tjärnström, CEO of Kindred Group, commented: “It is very satisfying that we finally can take this important step towards fair and equal terms within the Swedish market, competing on the same level as other operators.
“Kindred has always applied great effort to understanding what our customers want, giving them a great experience in a safe and secure environment with the highest responsible gambling standards.
“What is even more pleasing is that we can extend our commitment to Swedish society through different sponsorships and partnerships.
“Already in the days following the Parliament’s ruling in June, we have demonstrated our ambition by signing a twelve-year sponsorship deal with the Swedish Elite Football Association.”
Publishing a revamped gambling policy earlier in the year, the Swedish government introduced a new code of conduct, which all gambling stakeholders must adhere to. New responsibility provisions include:
- A comprehensive duty to protect customers, with all licensed operators offering player self-exclusion services.
- Players must have the ability to turn-off gaming content they choose.
- Licensed operators can only promote certified games content approved by the Swedish gambling regulator, Lotteriinspektionen.
- Player bonuses can only be offered once as a customer sign-up incentive and used at first time of play.