LeoVegas Casino To Appeal New Swedish Gambling Authority Sanction

LeoVegas Casino

Leading gambling operator LeoVegas has announced it is appealing a sanction from the Swedish Gambling Authority.

This week, LeoVegas received a sanction from Swedish Gambling Authority Spelinspektionen over anti-money laundering failings. As a result, LeoVegas was fined SEK2 million and received an official warning.

LeoVegas’s anti-money laundering failings reportedly involve several customers that made large winnings, with Spelinspektionen stating that the documentation for some of the said customers was inaccurate or insufficient.

In addition, Spelinspektionen stated that some of the customers were classed as at medium or low risk of money laundering, and that these customers should have received Know Your Customer (KYC) checks, but did not.

According to CasinoBeats, Spelinspektionen said of its decision: “The Money Laundering Act places high demands on the gaming companies that are licensed under the Gaming Act.

“Gambling companies must counteract the use of the business to launder money or finance terrorism. The law is based on a risk-based approach, which means that licensees must take measures that are in proportion to the risks to which they are exposed.”

They added: “The licensee must identify its customers and find out enough information to be able to assess and manage the risks associated with the customer. In the event of a high risk, more comprehensive measures for customer awareness must be taken.

“LeoVegas has not operated in such a risk-based manner as required by law. LeoVegas has failed in its work on customer knowledge and risk classification of customers, and it has failed in the documentation for what measures have been taken.”

In response, LeoVegas released a statement confirming its decision to appeal the sanction as the failings date back to the period of January 2019 to November 2019, and that it has since rectified these issues.

A statement from the operator reads: “LeoVegas is continually developing its policies to ensure compliance and had already before today’s decision changed and updated its customer due diligence routines.

“LeoVegas intends to appeal today’s decision in order to allow a court to review the matter and give the entire industry further guidance on how the current regulation is to be interpreted.”

Earlier this year, Spelinspektionen fined and issued warnings to websites Snabbare Limited, Hajper Limited, ComeON Sweden, and Casinostugan for repeatedly offering welcome bonuses to customers despite Swedish law stating operators can only offer welcome offers at sign-up.

Spelinskeptionen Fines Bet365 And Operator Hillside Sports

In addition to fining LeoVegas, the Swedish Gambling Operator also sanctioned gambling website Bet365 and its operator Hillside Sports, finding the group SEK1 million and issuing an official warning too.

According to European Gaming, on March 28, 2020, the website offered odds on a training match between Kronängs IF and Mariedals IK. Spelinspektionen launched a probe into the match and discovered that 24 of the match’s 34 participants were aged under 18.

As a result, Bet365 and Hillside Sports breached Chapter 8 and section 2.2 of the Swedish Gambling Act, which bans betting on sports games or events where participants are aged under 18.

In a statement, Hillside Sports claimed it had believed it could offer bets because the match was no specifically underage. However, the operator has voided all bets on the match and has taken action to avoid offering bets on similar matches in the future.

Hillside Sports told European Gaming: “The fact that a majority of the players then turned out to be under 18 years was an unfortunate coincidence that could have occurred in any senior league at any time and which could not be foreseen.”

The Swedish Gambling Authority highlighted that the Swedish Gambling Act banned betting on the match and stated that while the breach was serious, it accepted that it was a one-off incident.

Yggdrasil Announced New Content Agreement With SKS365

Meanwhile, Yggdrasil has announced a brand new content agreement with SKS365 and its Planetwin365 casino website, extending its reach within the Italian online gambling market.

Under the brand new partnership, a total of 24 Yggdrasil games have been made available on the Planetwin365 website, with an additional 15 games to launch within the coming months.

According to Yggdrasil, some of the titles that have successfully launched with the online casino include Vikings Go Wild, Easter Island, Golden Fishtank, and titles from the developer’s YG Masters program, such as All Star Knockout.

Björn Krantz, the Chief of Global Market Operations at Yggdrasil, said in a statement: “Partnering with another leading local operator is a testament to the popularity of our content in Italy where we have established a great presence.

“Together with Planetwin365 we will be able to reach an even wider audience and provide more players with the excitement and entertainment that our games offer.”

Troy Cox, the Chief Commercial Officer at SKS365, added: “We are delighted to start releasing Yggdrasil games to our customers in Italy. Yggdrasil provides content of the highest quality which is growing in popularity with the local audience.

“The launch of their content on our site is a great addition to our portfolio and will allow us to offer a more complete, richer, more immersive and entertaining gaming experience to our customers.”

The news comes just days after Yggdrasil announced the launch of brand new slot Robin – Sherwood Marauders, developed in partnership with YG Masters partner Peter & Sons.

The new slot is based on the tale of Robin Hood and his Merry Men, and comes jam-packed with numerous special features, including prize multipliers, expanding wild symbols, avalanche cascades, and so much more.