UK and Sweden Extend Gambling Cooperation
Date: 2024-03-11 Author: Dima Zakharov Categories: SPORTS BETTING
Extension of Collaboration
The Great Britain Gambling Commission and Sweden's Spelinspektionen have announced the extension of their Memorandum of Understanding (MoU), emphasizing information exchange in the gambling industry. This collaboration, ongoing since November 2019, aims to promote best practices in gambling regulation.
Common Goals and Interests
The extended MoU emphasizes fostering a shared understanding of legitimate interests and engaging on matters of mutual policy and operational interest. Both regulators are committed to supporting each other with operational assistance, recognizing the global nature of the gambling market.
Global Cooperation in Gambling
Spelinspektionen Director General, Camilla Rosenberg, highlighted the importance of global cooperation in the gambling sector. She expressed the significance of good relations with other gambling authorities, emphasizing the common ground where experiences can be shared and goals of a healthy and safe gambling market can be achieved.
Swedish Gambling Market in 2023
The extension follows Spelinspektionen's report on Sweden's gambling market in 2023, revealing a 1.2% decline in gambling revenue. Despite challenges, the Swedish regulator remains connected with counterparts in the Netherlands, Malta, and Gibraltar through similar MoU agreements.
UK's Continuous Gambling Growth
While Sweden faced a decline, the Great Britain Gambling Commission is yet to release full figures for 2023. However, the most recent data for the online sector in Q3 shows a 4% YoY increase in gross gambling yield (GGY) to £1.30bn, showcasing the resilience and growth of the gambling industry in the United Kingdom.
