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Written by: , Head of Content February 22, 2023 at 4:11PM
Last Updated: October 13, 2023 at 4:56PM ()
Read Time: 1 min.

Swedish Gambling Authority Lost the Court Case against Avento, the Owner of Two Casinos

In December 2019, Avento, the company that owns Frank Casino and SlotsV, acquired a three year gambling license in Sweden. But in 2022, the license renewal was rejected. Spelinspektionen explained that during the first two years the company had negative equity and isn’t eligible for renewal.

Avento took the case to the court and won. The Administrative Court in Linköping ruled in favor of the company because its financial situation improved in the last year. According to the court, negative equity doesn’t necessarily mean inability to fulfill license obligations.

The Swedish Gambling Authority still considers it unacceptable for a business to operate with negative equity. But after the court ruling, Spelinspektionen stated that it would assess each case individually.