The Local reports that instead of approving the proposal, it has suggested that Svenska Spel carry out an internal, ongoing investigation into the existing license, which is due for renewal in June 30, 2008. Until that investigation is complete, the government has decided not to allow the further expansion of Svenska Spel's online poker services. The government apparently stressed that the social impact of gambling had precedence over profits.
Third quarter 2007 results at the Swedish monopoly recently showed a 1.4 billion Swedish kronor ($215 million) profit. Overall profits for the first three quarters of this year were in excess of 4 billion SEK - up 19 percent compared to 2006.
The Swedish government is currently under pressure from the European Commission to cease its monopolistic gambling activities and open up the growing and lucrative Swedish market to fair competition from other EU member states.
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