The Swedish Gaming Authority, Spelinspektionen, has imposed a significant fine of SEK 2.6 million (approximately $246,000) on Hacksaw Gaming. This penalty stems from the discovery that the iGaming studio had issued software to operators who lacked the necessary licenses to operate in Sweden.
In July 2023, the Swedish Gambling Act was updated to mandate that all parties involved in the provision, manufacture, installation, or modification of gaming software for online gaming must hold a valid license. This regulatory change aimed to tighten controls over the online gaming sector and ensure that all operators and software providers adhere to stringent licensing requirements.
An initial investigation by Spelinspektionen into various operator gaming sites revealed numerous breaches of the updated regulations. These violations were deemed significant enough to warrant a comprehensive investigation. During this process, it was discovered that several websites were operated by entities without the appropriate Swedish gaming licenses, making their operations in the region illegal.
As the investigation continued, Spelinspektionen identified Hacksaw Studios AB as a supplier of gaming software to two brands that did not hold the required Swedish gaming licenses. This revelation prompted the Swedish Gaming Authority to issue an official warning to Hacksaw Studios and impose an administrative fine of SEK 2.6 million as a penalty for their non-compliance.
In addition to these actions, the Swedish Trade Association for Online Gambling (BOS) has shown support for a motion to tighten credit regulations in Sweden. This initiative, proposed in October 2023, aims to enhance consumer protection within the online gambling sector. The motion’s backing by BOS reflects a broader industry effort to improve regulatory compliance and safeguard players.
In the wake of these developments, it has been reported that the number of Swedish players utilizing the self-exclusion register has surpassed 100,000. This register allows individuals to voluntarily exclude themselves from all licensed gambling activities in Sweden, demonstrating a growing awareness and proactive stance among players towards responsible gambling.
Despite these challenges, Hacksaw Gaming continues to expand its operations. Recently, the company announced a new partnership with Betclic in Portugal, marking its second launch in the Portuguese market within two months. This strategic move indicates Hacksaw’s ongoing efforts to strengthen its presence in regulated markets, even as it navigates the repercussions of its regulatory breaches in Sweden.
Overall, the fine imposed on Hacksaw Gaming underscores the importance of adhering to regulatory frameworks in the online gaming industry. It serves as a reminder to all stakeholders of the critical need for compliance with licensing requirements to ensure fair and responsible gaming practices. The actions by the Swedish Gaming Authority highlight their commitment to maintaining a well-regulated gaming environment and protecting consumers from unlicensed operators.
