Casumo CEO: We’re confident our Swedish licence will be extended
Oscar Simonsson speaks to EGR about Casumo’s two-year Swedish licence and the UKGC’s investigation
Casumo is confident it will have its two-year Swedish licence extended as its AML and social responsibility shortcomings highlighted by the UK Gambling Commission will be “history”, CEO Oscar Simonsson has said.
The online casino operator was this month awarded a two-year Swedish licence after being fined £5.85m by the UKGC in November, while many of its competitors were instead granted five-year licences.
Speaking exclusively to EGR, Simonsson said: “We have built the business to be able to fully meet requirements of regulated markets.
“This enables us to move more quickly and confidently into new regulated markets with a compliance-first approach,” he added.
With regards to the GC’s investigation into a number of PML (Personal Licence Holders) and the warning issued to a number of execs, Simonsson said PML holders at Casumo “will use the experience gained from the process”.
“We were pleased the UKGC acknowledged that ‘since Casumo’s assessment, [management had] pro-actively put remedial provisions in place to mitigate the risk to the licensing objectives.’
“We really are committed to ensuring Casumo leads the industry in the area of player protection,” Simonsson added.
In other Swedish licensing news, Svenska Spel’s bricks-and-mortar casino brand Casino Cosmopol has also been granted a two-year Swedish licence after being fined by the Swedish regulator for AML failings.
The operator appealed the regulator’s fine as it believes the situation is not proportional to decide on a penalty.
The firm was asked to reapply for its online licence and include a description of new AML measures it plans to implement.