Is Sweden Going To Ban Online Casino Advertisements?

Is Sweden Going To Ban Online Casino Advertisements?

According to the latest from Sweden’s daily Expressen and confirmed by global news agency Reuters, the Swedish government is looking forward to ban online gambling advertisements.

Following the news, the share prices in the online gambling sector on the Swedish Stock exchange have plummeted.

The government is concerned about the growing problems of compulsive gambling. Earlier this month a report also found that the number of women addicted to gambling in the country is at an all-time high.

Also, this year the Swedish gambling authority, Spelinspektionen, has been strict on consumer protection. Earlier this month after an investigation the gambling authority also slapped a heavy SEK 3 million fine on AG Communications, a subsidiary company of Aspire. The company was found accepting wagers from those listed on the self-exclusion directory.

Sweden’s daily Expressen has said that the government will probe and discuss if it should put a complete ban on “aggressive advertising.”

The shares in the sector as reported by Reuters are down 3.6 percent following the news. The shares of Rival LeoVegas dropped 6.4 percent.

Ardalan Shekarabi, Sweden’s Minister for Public Administration, will also be holding a press conference at 1140 GMT.

It is expected that he will elaborate and make an official statement of the government’s move in regards to online casino and gambling advertisements.

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