Spiffbet, a Swedish operator, has announced that its three casino brands (Zenspin, BusterBanks, and Cashmio) have received the green light from the Swedish Gambling Authority. This gives the operator the freedom to launch operations in Sweden this May.
Spiffbet has taken an advanced position in the Swedish gambling market after its three brands received a nod by Spelinspektionen. The three brands, Zenspin, Busterbanks, and Cashmio, are set to launch in May 2021.
Maria Boelius, who is the Head of Casino Operations at Spiffbet, said that the company has already assessed the three latest brands. According to Boelius, they have everything it takes to conquer the market. Furthermore, its previous brands have proven that success is no far from reach and that growth is a possibility. Spiffbet already has other brands operating in the market. These are LiveLounge, Scandibet, Metal Casino, and TurboVegas.
According to Maria, the growth possibilities indicated by these brands come at a time when the jurisdiction implemented tough gambling regulations. The Swedish government imposed a deposit cap of SEK5,000 per month in July 2020. However, the measures were supposed to hold until the end of 2020 but the government extended these regulations to June 2021. In addition to the monthly deposit cap, operators can only offer bonuses capped at SEK100.
Spiffbet has been on an expansion plan in Sweden in recent months. According to Boelius, the company is already familiar with the Swedish market, including the gaming regulations imposed by the government and the gambling regulator. Boelius continued, saying that there’s a lot going on in the gaming market referring to Europe but added that it’s still safe and profitable to set up shop in Sweden.
In February 2021, Spiffbet first negotiated a deal to acquire Manisol Gaming. This gaming company operates TurboVegas and Scandibet. However, the deal came to fruition less than a month later. In the deal, Spiffbet offered SEK19.1m in the form of shares or cash and also to take on debt worth SEK10.1m. The acquisition will boost the company’s casino sales by close to 50%.
Spiffbet’s expansion in Sweden is in line with its ambition of offering its customers a diverse array of games. According to Boelius, doing this will allow it to create partnerships between the company’s brands and markets.
Spiffbet now operates a chain of online casino brands including Cashmio, Metal Casino, Live Lounge, Sir Jackpot, Buster Banks, Scandibet, TurboVegas, Bellis Casino, Goliath Casino, Wishmaker, and Supernopea. The company is also involved in game production through Spiffbet Sports, STHLMGAMING, and Spiffbet Casino.