Failure to launch sees SGA terminate Vivaro Limited’s Swedish licence
VBET operator has accreditation revoked after reporting zero sales in first year of operation
The Swedish Gambling Authority (SGA) has recalled the betting and gaming licence of Vivaro Limited after it failed to launch online gambling operations in the market.
Vivaro – which operators the VBET sports betting brand – was granted a three-year licence on 3 June 2020 but has reported zero sales during the intervening period.
On this basis, the SGA opened an investigation into the company on 13 July 2021.
Vivaro responded to the inquiry by suggesting it intended to launch in the Swedish market by the end of August and that a prior launch had been delayed due to the Covid-19 pandemic.
On top of this, many of the company’s staff are based in Armenia and around 50 employees were sent away to fight in the Nagorno-Karabakh war with Azerbaijan.
The SGA warned against a rushed launch and Vivaro agreed it would be beneficial to spend time putting the appropriate protocols in place instead of jeopardising its licence from the very start.
The revocation decision was made by SGA director general Camilla Rosenberg and can still be appealed.
Elsewhere, Volt Casino operator Fair Play Bets Limited had its licence revoked for the same reason.