Swedish gambling authority Spelinspektionen and the Gibraltar Gambling Division (GGD) announced today that they will be working together. The two authorities have signed a Memorandum of Understanding (MoU) to cooperate on exchange of information, make the process easier and also bring more efficient supervision. The MoU came into force on May 8.
The two authorities aim to keep their public policy objectives and their mutual values firmly intact via the MoU. Now, they will provide each other with continuous operational assistance. They will also exchange high-quality information on their respective procedures and the regulatory policies followed within their jurisdictions.
Andrew Lyman, the executive director of Gibraltar Gaming Division, expressed his content over the agreement, highlighting the authority’s commitment to work with other gambling regulators. He noted that both regulatory bodies share common values like promotion of social responsibility, reducing crimes related to gambling, customer protection and the creation of a fair market. GGD is a strategic unit under the Ministry of Commerce of the British overseas territory, and it looks after the igaming sector of Gibraltar.
Spelinspektionen Director General Camila Rosenberg explained why cooperation between the two authorities was important. Several gambling operators licensed in Sweden also hold an operating licensed in Gibraltar. Some of them even have their technical equipment situated there. Cooperative efforts and sharing their communication channels will help in aiding more robust regulatory activity. She said that the agreement is the beginning of a deep, long-term collaboration between the two authorities.
This is the second such MoU for the Swedish authority this year. Earlier, it signed a similar agreement with the Malta Gaming Authority (MGA) to increase cooperation between different gambling bodies in Europe. It intends to make provisions for information sharing and other areas of interest to bring stronger collaboration between regulatory bodies.
Heathcliff Farrugia, the chief executive officer of the MGA, said that the authority is always looking forward to fostering relationships with its peers. He noted that such relationships are crucial in reaching the regulator’s objectives, especially in cases of remote gaming which is across border.