Sweden Temporarily Revokes Charm Entertainment’s Casino Gaming License

STOCKHOLM – Sweden’s gambling regulator temporarily revoked Charm Entertainment AB’s commercial land-based casino gaming license on Oct. 1. The company must immediately stop all activity covered by the license while the regulator continues its review.

Spelinspektionen opened its supervisory investigation into Charm on May 27, examining whether the company continued to meet requirements under Sweden’s Gambling Act and other legislation covering taxation, accounting and bookkeeping.

The regulator reviewed Charm’s annual reports for 2023 through 2025, along with material connected to a criminal preliminary investigation heard before Södertälje District Court. In its interim licensing decision, Spelinspektionen said there were probable grounds to believe the company no longer met the conditions required to hold a gaming license.

Investigation Raises Accounting and Suitability Concerns

Among the issues identified during the review were discrepancies involving Charm’s financial reporting. Two separate annual accounts were submitted for the 2023 financial year, raising questions about the company’s bookkeeping and compliance with requirements applying to Swedish gaming license holders.

The investigation also examined connections between Charm and Lucky 21 Casino AB, a previously licensed operator. Current and former individuals associated with Charm have been charged with serious accounting offenses linked to Lucky 21, according to information reviewed as part of the regulatory investigation.

Spelinspektionen also identified significant personnel overlap between the two companies and noted that their operations were located close to one another. The regulator considered whether issues identified in connection with Lucky 21 could have continued within Charm’s operations.

The allegations and criminal charges involving individuals connected with the businesses remain subject to the relevant legal proceedings and should not be treated as convictions unless established by a court.

Charm Must Immediately Stop Licensed Gaming

Spelinspektionen concluded that the concerns were serious enough to justify action before its full investigation was complete. Swedish license holders must continue to satisfy suitability requirements throughout the life of a license, including compliance with gambling legislation and laws governing tax, accounting and bookkeeping.

The temporary revocation applies to Charm’s commercial land-based casino gaming activities. In Sweden, that licensing category includes commercial gaming at venues such as restaurants and other approved locations and is separate from the former state-operated Casino Cosmopol model.

The interim order remains in effect until Spelinspektionen reaches a final decision, but no later than April 1, 2027. Charm can challenge the regulator’s action through the appeals process.

Final License Decision Still Pending

The Oct. 1 action does not represent a final determination that Charm has permanently lost its license. Instead, it prevents the company from continuing licensed gaming while Spelinspektionen completes its assessment of whether the statutory licensing requirements remain satisfied.

The regulator began a broader supervisory review of commercial land-based casino licensees earlier this year, examining areas including suitability, organization and compliance with individual licensing conditions. Charm was one of the companies included in that review.

Spelinspektionen will determine whether further regulatory action is required when the investigation concludes. Until then, Charm is prohibited from conducting the activities covered by the suspended license.

RELATED TOPICS: Regulation