The Kindred Group could be on the hook for millions in damages in Sweden arising from a lawsuit filed against it by fashion entrepreneur Per Holknekt, founder of Swedish clothing company Odd Molly. Holknekt is accusing the gambling operator of exploiting his gambling addiction.
New York, the nation’s largest gambling market with over $2.1 billion wagered last month, has become a battleground for operators seeking dominance in the lucrative industry since the legalization surge following the US Supreme Court’s 2018 decision.
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The Swedish government will introduce stronger customer protections, reinforce customer care duties for licensed online gambling firms, and increase fines for AML violations under amendments to the Gambling Act. The new rules will take effect from April 1, 2024.
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