Cashmio Pulling Out of Sweden

Internet casino Cashmio announced this week that they're leaving the Swedish betting market, as the country's regulation of games has made it difficult for the brand to sort out licensing details.

The announcement was made in an email that was sent out to affiliates, breaking the news and spelling out what's in store for players. Swedish customers with a Cashmio account will have until July 31st to pull out their funds, and will not be able to play on the site after April 30th.

The email in part read: "Cashmio has made the hard decision to close down the Swedish market from 30 April 2019. With the re-regulation that hit in January, we find that the unclear license demands create unclear compliance requirements and this is taking too much time and focus from our main markets like Finland and the UK. We feel like now is not the time to push marketing as it can result in huge fines and we would rather spend that money on growing our business and marketing in clear markets."

Cashmio did say that they're not ruling out a return to the Swedish market in the future, should the regulations become clearer for operators.

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bgsharpe
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24 April 2019 - 1:21pm
#1

That seems to be a weird decision in a times when many other brands are desperate to obtain a Swedish license at first place, yeah they said Finland and the UK are their main markets but it's still sound too strange of a decision that from a Casmio's side.

usbarbadosslim93
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24 April 2019 - 5:50pm
#2

There have been stories of sites getting fines in Sweden in regard to self-exclusion, but there may be issues getting the sites compliant. I wonder if something like this is keeping Casumo out until things settle down.

sharpe

bgsharpe
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25 April 2019 - 9:59am
#3

Yeah I guess you might be right with that suggestion Slim, although they didn't admit that's been the reason anyway..it looks an odd move for me anyway.

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