NGG Nordic Ltd fined by the Swedish Gambling Authority
NGG Nordic Ltd, an operational subsidiary in the Betsson Group, which operates the brand Nordicbet in Sweden, has been fined SEK 19,000,000 by Spelinspektionen (the Swedish Gambling Authority, the SGA), since NGG Nordic Ltd is considered to have offered commercial incentives to customers in Sweden in a manner deemed by the SGA as incompatible with the new gambling legislation.
Betsson does not agree with SGA’s interpretations and supports NGG Nordic Ltd’s view that their customer offerings have been in line with what is permitted under the new gambling legislation. However, changes were made to the customer offering to the Swedish market immediately following SGA’s clarifications. Betsson also looks forward to having better clarity on this aspect of the law as it is necessary to complement the new legislation with guidelines and set precedent to reduce the risk of misinterpretations.
The regulation on bonuses is vague and has been shown to leave much room for different interpretations. NGG Nordic Ltd intends to appeal the SGA's decision as it is important that the courts provide guidance on how the bonus ban should be interpreted.
For further information, please contact:
Pontus Lindwall, CEO and President Betsson AB
+46 (0)8 506 403 00
Anna Ulinder, IR Manager Betsson AB
+46 (0)73 368 33 69, email@example.com
This information is information that Betsson AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, on 27 June 2019, at 11.00 CET.