Svenska Spel to Halt Online Casino Advertising
Not even a year ago, Svenska Spel had a monopoly on the Swedish gambling market. In 2019, they’ve announced they are ending their online casino advertising campaigns with immediate effect.
Due to last until at least the end of 2019, when there will be an official review of the consequences, this moratorium is a serious statement of intent. Svenska Spel made SEK385m (£31.9m) in the first two months of this year alone, so this was clearly no light decision. “If you are serious about taking responsibility, then you should address the problems where the problems exist, even if it impacts revenue in the short term,” said Chief Executive Patrik Hofbauer “In the long term, this is the only sustainable option.”
The move comes after many months of fractious debate in Sweden, as the country gets to grips with its new regulated-but-open gambling market.