Spelinspektionen Fines Yggdrasil Gaming for Supply Terms Breach
Expertise: Online casino, iGaming
LISTEN TO THIS ARTICLE:
As part of its defense, Yggdrasil Gaming explained the company had found errors in the internal systems it used to monitor dealer agreements with operators.
The Swedish Gambling Authority has inspected a number of websites operated by operators who do not have the necessary Swedish gaming license and who are prohibited from operating gambling in Sweden. The Swedish Gambling Authority was then able to establish that Yggdrasil Gaming Limited was a game supplier to an operator that lacked the necessary Swedish license and initiated a supervision of the company.
Spelinspektionen’s Sanctions against Yggdrasil Gaming
The SGA stated they believed the charges against Yggdrasil were severe and had considered revoking the supplier license of the game’s developer. However, the regulator decided to issue Yggdrasil with a warning on this occasion.
As well as a warning, the Swedish regulator handed out a fine to Yggdrasil Gaming for the breaches of its supplier license, which totaled SEK 300,000.
When calculating the size of the penalty fine, the SGA had the option to levy against Yggdrasil, which ranged from SEK 5,000 to a maximum of 10% of the turnover of the company. With a 2023 turnover of €514,566, this translated to a maximum penalty of SEK 580,000. The regulator issued the SEK 300,000 penalty fine based on the severity of the breaches by Yggdrasil.
RELATED TOPICS: Regulation
