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Sweden Launches State Owned Online Casino

The Swedish government celebrated the launch of its first online casino site last week. Swedish Games Corporation, a government-owned gambling firm, and well known online casino gambling software developer Boss Media launched the new site Svenka Spel, and according to industry sources, additional gaming sites are already underway. The site is the first government funded gambling venture in Sweden, and if successful, could pave the way for encourage other governments to benefit from the lucrative taxation revenues online casino operators can provide.

The online casino site was approved by the government in November 2005 and soon after, developers began work with the intention of creating a top class online casino site with the highest levels of reliability and security. President of Boss Media, Johan Berg, confirmed at the launch of Svenka Spel that additional online casino ventures are under consideration in light of the Swedish government’s ground-breaking decision. Berg also commented that responsible gaming is a critical factor for the government-owned online casino companies. Boss Media software is designed to create greater security for casino players as well as for gaming firms.

Currently 140 government-owned gambling firms – including online casino businesses – exist under World Lottery Association jurisdiction. However, Svenka Spel is one of the first online casino firms to be licensed by a European government, creating new hope amongst gaming fans that other countries may soon follow suite.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.