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Monopolies Certainly Lucrative

The Swedish gambling industry is proving to be very lucrative industry for the Swedish government, particularly considering the country operates state-run online casinos gambling monopoly. There is extensive debate in the European Union about certain EU member nation’s support and legislation for gambling monopolies. Many in the EU, including the European Commissioner, Charlie McCreevy, feel that the government online gambling monopolies are in direct violation of EU principles of free trade and movement of services between the EU member-states. But considering the significant growth in 2007 revenue for Svenske Spel, the Swedish gambling monopoly, why would the Swedish government alter the policies unless forced?

Svenske Spel announced preliminary results for the 2007 fiscal year that indicate a full-year revenue increase of roughly nine percent. The online casino gambling monopoly’s revenue for 2007 was reported at SEK 5.25 billion. Svenske Spel has little competition in the Swedish market so therefore essentially solely reaps the benefits of global growth in Swedish gambling industry.

Online casinos poker and phone-betting revenues showed the most growth and contributed significantly to the mentioned nine percent rise in company revenue – those combined sectors of the industry saw at the year’s end a 38 percent increase in revenue.

Although the European Commission has some real problems with the Swedish online casino gambling monopoly, there is validity in the country’s current system. A large portion of the revenue does actually go back into the communities in the form of support for youth development programs, sports organizations, and more. Despite that fact though, Comissioner McCreevy contends that the Swedish government is in direct violation of the EU’s founding principles.