The Swedish government has reported on the revenues generated by casinos and announced plans to review the country's gambling laws

The Swedish government has decided to review the country's Gambling Act, a move that comes on the heels of the release of the financial report for the industry by Spelinspektionen for 2024.
In 2024, licensed companies reported a total turnover of 27.8 billion Swedish kronor (approximately $2.5 billion), reflecting a modest growth of 2.8%. Online gaming and betting accounted for around SEK 18 billion (about $1.5 billion), marking a 5% year-on-year increase. Revenues from state lotteries and gaming machines rose by 2%.
The state-owned casino operator Casino Cosmopol reported revenues of SEK 31 million (around $2.5 million) for the fourth quarter of 2024. Land-based gaming establishments generated SEK 63 million (approximately $5.2 million), while bingo revenues reached SEK 50 million (about $4.1 million). Spelinspektionen emphasized that these figures are preliminary and based on information from the Swedish Tax Agency.
Immediately following the release of the financial results, the government proposed a revision of the Gambling Act. The aim of this initiative is to minimize the criminalization of offshore operators to better protect Swedish consumers. It also seeks to prevent the outflow of funds to foreign companies that do not pay taxes. A new proposal is expected to be presented by September 17.
Currently, unlicensed gambling companies are not strictly illegal; they can operate as long as their services are not targeted at Swedish residents and do not offer services in Swedish or in the local currency. This loophole has led many residents, particularly those fluent in English and using euros, to opt for offshore sites.
The initiative has been welcomed by the Swedish iGaming Industry Association (BOS), which has been advocating for such reform since 2019. BOS Secretary General Gustaf Hoffstedt highlighted the importance of banning illegal operators, noting that the licensed gambling market has experienced significant revenue losses following the re-regulation.
It is worth mentioning that in May, Sweden will begin trials of an advanced player self-exclusion system called Spelpaus.