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Gambling Tax Income Boosts The Swedish Economy
Swedish gambling licenses are notoriously strict – however this is for very good reason, and the state has been careful to make sure that all applicants and licensees follow the rules carefully. One of the rules? All gaming companies registered with the Swedish government for the purposes of offering online gambling must pay tax on their income in Sweden. But how has this benefitted the Swedish economy since then?
This tax income is critical in ensuring a steady revenue stream for the country – as in some US states they use tax revenue to better fill the treasury, or to create funds for social projects. Over the course of 2019 and up until 2020, gaming companies had paid up a total of SEK 923 million – a huge number given the amount of time the law has been in action.
However, actual numbers may be even higher than this – with numbers as high as SEK 1.8 billion being touted by professionals in the regulatory body. This is twice as much as the initial estimates – and we can only assume that this will increase further as time goes on, through a combined income of taxes, application fees, renewal fees, and other administration monies to be paid to the Swedish government.
According to Norskespilleautomater, Swedish regulations have had a huge impact on licensees in the country. Although online gambling usage has increased throughout 2020, we’ve seen that operators are reporting a drop in income from players. This is most likely due to the new deposit limit laws and possibly on bonus caps not enticing players so much.
However, as changes to regulations are rolled out slowly across Europe – notably Germany’s upcoming gambling laws, Portugal’s laws against bonuses, and various quickly-implemented anti-gambling laws put into place over the course of the pandemic in Europe – we can only hope that Sweden’s strict-yet-flexible approach helps more operators function in the legal market. This makes gambling safer, more fun, and ultimately more profitable for the Swedish government as time goes on.
SOURCE: Norskespilleautomater.com
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North Star Network (NSN) has announced its acquisition of Soccernet.ng, a prominent Nigerian sports media platform, marking a significant expansion into the Nigerian sports scene and underscoring its ambition to solidify its footprint in the African media landscape.
Founded in 2014, Soccernet.ng has become a trusted authority on Nigerian football, providing in-depth daily coverage of local football alongside trending stories from the global soccer world. Known for its quality journalism and passionate team of football enthusiasts, the platform has achieved significant recognition, including the Sport Blog of the Year award at the Nigerian Blog Awards.
A Strategic Move into Africa
The acquisition of Soccernet.ng is part of North Star Network’s strategy to expand its portfolio in Africa. The platform joins NSN’s roster of over 30 respected sports media brands, which includes Afrik-Foot, Top Mercato, Football Whispers, Sportsmole, and Vringe.
Julien Josset, Co-founder of North Star Network, expressed enthusiasm about the acquisition:
“We’re excited to welcome Soccernet.ng into the North Star Network family. Their passion for Nigerian football and commitment to quality journalism align perfectly with our global vision of bringing fans closer to the game they love.”
Preserving Soccernet.ng’s Legacy
Soccernet.ng will retain its original team of dedicated journalists, ensuring the platform’s authenticity and unique voice remain intact. The website currently engages readers not only in Nigeria but also across over 150 countries, including the UK, USA, Canada, and Spain.
Biyi Akangbe, Founder of Soccernet.ng, reflected on the platform’s journey:
“We started as a small website 10 years ago with a passion to deliver news about Nigerian footballers to readers. We’ve since grown into a globally recognized source for Nigerian football news. This acquisition by North Star marks an exciting new chapter for our brand.”
Co-founder Lolade Adewuyi will continue to contribute to the site as a columnist, maintaining the brand’s strong connection with its loyal readership.
Expanding Global Reach
The acquisition of Soccernet.ng reinforces North Star Network’s dedication to amplifying local voices in key regions while offering unparalleled sports coverage. With its innovative strategies and growing portfolio, the group is poised to drive sustainable growth across its media brands.
North Star Network is a leading global sports media group, operating in over thirty countries and committed to delivering world-class sports content to fans worldwide.
This acquisition sets the stage for a new era in Nigerian sports journalism and highlights North Star Network’s continued efforts to connect fans to the heart of the game.
The post North Star Network acquires Soccernet.ng to strengthen Nigerian presence appeared first on European Gaming Industry News.
North American Expansion Kicks Off Through Strategic Partnership with Moozi
Golden Matrix Group’s game development division, Expanse Studios, has officially entered the U.S. sweepstakes market, marking a significant milestone in its North American growth strategy. This move is powered by a strategic content partnership with Moozi, one of the most dynamic sweepstakes social casino platforms in the region.
With Moozi now featuring over 50 of Expanse Studios’ top-performing games—including immersive slots, crash games, and table games—this partnership positions GMGI to capture a share of the $5.6 billion U.S. sweepstakes market, projected to more than double to $11 billion by 2025 (Eilers).
Damjan Stamenkovic, CEO of Expanse Studios, commented:
“This partnership signifies our formal entry into the U.S. market, showcasing the innovation and player-first experiences that define Expanse Studios. Collaborating with Moozi enables us to deliver advanced gaming content to a growing audience in North America, a key region for our global growth.”
James Anderson, Moozi’s CCO, added:
“Expanse Studios has set a high bar for engaging and innovative gaming experiences. Their addition to our platform elevates Moozi’s offerings and strengthens our mission to lead the U.S. sweepstakes social casino space.”
This launch underscores Expanse Studios’ commitment to innovation and its long-term growth trajectory in regulated markets. By entering the North American sweepstakes market, Expanse Studios takes a bold step in expanding its footprint while delivering cutting-edge gaming experiences.
Digitain Announces New Slogan and Vision Ahead of ICE Barcelona
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