White Hat Gaming surrenders Swedish licence
Igaming solutions provider to exit market three years early due to overregulation and diminishing channelisation rate
White Hat Gaming has relinquished its Swedish operating licence after deciding the country’s online gambling market is overregulated.
The Malta-based white-label solutions provider was granted a five-year licence in January 2019 by the Swedish Gambling Authority (SGA) but will now exit the market at the end of June 2021.
EGR understands the prolonged implementation of deposit and bonus restrictions, combined with an ever-decreasing channelisation rate to licensed firms, were they key drivers behind the decision to withdraw.
White Hat Gaming powered 33 online gaming domains in Sweden across brands including 21 Casino, Dream Vegas and Jackpot Village.
The provider will now turn its attention to operating markets of higher potential with better ROI, including the US, where it has signed a multi-state platform agreement with Penn National Gaming.
White Hat Gaming could also be preparing to withdraw from Germany, EGR Intel has learned.
A final decision will likely depend on whether the country confirms the implementation of a 5.3% turnover tax on online casino, slots and online poker.