Svenska Spel had asked the Swedish government to allow them to expand their service of Internet Poker for their players. This request was denied by government leaders with them actually turning around and asking Svenska Spel to work some more on their internal investigation in regards to their current license as the due date for that is June30th of 2008. Until then, the Swedish government will not discuss matters of expansion for Svenska Spel.
But it can’t be all that bad for Svenska Spel as their overall profits are up 19% since 2006. So far for the last three quarters, this online poker provider had profits of over 4 billion. Of that, 1.4 billion kronor is profit from this last quarter.
And since Svenska Spel currently controls roughly 35% of the online gambling market, the Swedish government has asked that they think more of what gambling does to the social environment rather then thinking of profits first.
But there may be some reason behind Svenska Spel jumping at wanting to expand. Currently, the European Union is targeting Sweden because of online gambling practices that are viewed as unfair. It action is taken; Svenska Spel could lose their monopoly status within Sweden.
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