Sign up for news

Two Times More: Gaming Tax Revenues in Sweden Exceeded the Expected Amount

7 August 2019, 11:24
Votes: 1

For the first half of 2019, the Swedish government has collected taxes from gambling operators in the amount that surpasses the expected one for the 12-months period.

Two Times More: Gaming Tax Revenues in Sweden Exceeded the Expected Amount

The Swedish Tax Agency’s report as of August 1 showed that the country has received almost $191 million in revenues from gambling operators, which is twice the size of the government’s forecast for the first 6 months of the year. Thus, till the end of 2019, it is going to be at least two times more than predicted.

After launching a new gambling regulation, Sweden granted licenses to 86 online gambling operators, which paid a total of SEK124m as the license and supervision fees. Additionally, these companies are obliged to pay 18% of their revenues to the national budget. Subsequently, all Swedish operators have reported a decrease in their income, which is a natural result of online casinos adaptation to the new market conditions.

According to Anders Sims, the Swedish regulatory body representative, currently, gambling companies have an opportunity to comply with the rules and still make a good profit. He admitted that the supervision fees were bigger than operators had expected, but this was a necessary measure due to a huge flow of companies wanting to get licensed. 

Read more: Swedish Casino: History and Prospects

Read more: Gambling: What are the reasons for Gambling Addiction

Comments:

No comments

Now read
17 Feb
Up