Videoslots has received a license extension in Sweden, as the operator has been granted a right to continue operating through 2028, Casino Guru News learned in an email press release.
This is the maximum allowable extension for operators in the market, with Spelinspektionen giving the go-ahead to the company which has faced some difficulties of late but has remained a committed and determined player in the local market, nevertheless.
The company has been running in the market since Sweden legalized online casinos and gambling in 2019 under a new regime designed to ensure that consumers are safe and that local operators live up to the highest standards for consumer protection and responsible gambling.
Videoslots Deputy CEO Ulle Skottling has celebrated this success, welcoming the opportunity to see his company continue to operate as a regulated and trusted entity in the market.
"We remain strong in business and compliance, and we welcome the SGA's recognition and ongoing confidence in our practices. The decision supports our plans for 2024," Skottling added.
Videoslots has much to be cheerful about, including the company’s introduction in the regulated iGaming market in Ontario, and also the addition of its 10,000th slot to its ever-expanding portfolio of titles.
A month ago, Spelinspektionen named Videoslots as the recipient of a SEK9m penalty, roughly $810,000 at the time. The infringements cited in the enforcement action pertain to offenses committed between 2019 and 2021.
Although the regulator said that it would be monitoring Videoslots closely for further offenses, the incident has not been sufficient grounds to pursue a stricter course of action against the company, with Videoslots cooperating fully in the matter.
Videoslots was named as the Online Casino Operator of the Year at the International Gaming Awards 2023 earlier this year, consolidating its stature as a trusted and player-centric company. Videoslots remains one of the leaders in the Casino Guru Safety Index, and scores 10/10, one of the few casinos that do.
Image credit: Videoslots