Eish, my bru, have you heard the latest skinner about ATG, Sweden’s monopoly horse racing betting operator? They’ve just managed to get their SEK6m ($554,191) fine chucked out. Talk about a lekker win, hey?
So, here’s the lowdown. Last year, Spelinspektionen, the country’s gambling regulator, slapped ATG with a warning and a hefty fine. The reason? They reckoned ATG was dropping the ball when it came to anti-money laundering. The investigation found a few dodgy dealings, especially with eight accountholders.
But ATG wasn’t having any of it. They argued that they’d done everything kosha and taken the right risk-based actions. The Administrative Court in Sweden agreed. They said, sure, there were a few hiccups, but nothing serious enough to warrant a fine and a warning.
ATG’s CEO, Hasse Lord Skarplöth, was chuffed with the decision. But he reckons it raises some big questions about Spelinspektionen. He thinks the regulator should be helping operators in the licensed sector, not punishing them.
And that’s not all. Skarplöth also believes that the regulator should be spending their time and resources on tackling unlicensed operators that target people in Sweden. Now, Spelinspektionen has three weeks to submit their own appeal.
So, let’s see how this all pans out, hey? It’s all a bit of a skop, skiet en donner at the moment. But one thing’s for sure, it’s never dull in the world of gambling.