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Popular online casino Videoslots has been granted a five-year Swedish gambling licence after appealing the Swedish Gaming Authority’s (Spelinspektionen) decision to only grant them a two-year licence in December 2018.
The decision was overturned by the Administrative Court in Linkoping after it was revealed that Videoslots was only given a two-year license due to receiving penalties from the UK Gambling Commission (UKGC) back in November 2018.
The company was ordered to pay a £1 million penalty package after UKGC investigation found weaknesses in the firm’s anti-money laundering and social responsibility controls. The money went to the National Responsible Gambling Strategy to fund research and treatment projects.over weaknesses related to its anti-money laundering and social responsibilities.
“Videoslots is firmly committed to keeping gambling both safe and fun and this has been recognised with the full five-year period of our Swedish licence. Player safety across all our markets is always our priority and this news is very welcome due to the growth we are seeing in the Swedish market’,” said Alexander Stevendahl, Videoslots.com CEO.
The news comes as a further boost to Videoslots’ growth within Europe having previously been awarded a licence in Italy, Denmark, Malta, Spain and the United Kingdom. Also, the company recently announced a partnership with Betradar to launch a brand new sportsbook in 2020.
