Polar Limited has received a regulatory remark and SEK50,000 ($5,400) sanction fee from the Swedish Gambling Authority (Spelinspektionen) after failing to report a change in its associated persons within the required timeframe.
The Malta-based operator holds Swedish licences for commercial online gambling and betting and operates Coolbet in the market. Spelinspektionen opened its supervision of Polar Limited in June 2025 and found that a change had occurred without being reported to the regulator.
Under Sweden's Gambling Act, licensees have 14 days to notify Spelinspektionen of changes involving individuals or legal entities subject to suitability assessments. This includes changes concerning ownership, board membership, senior management and representatives.
The reporting requirement allows Spelinspektionen to reassess individuals and entities connected to a licence after it has been granted.
The regulator has said the provision is intended to prevent suitability requirements from being circumvented through subsequent changes to a licensee's ownership or management.
Polar Limited has already been subject to separate regulatory action in Sweden during 2026. In April, Spelinspektionen issued the operator with a remark after finding that it had incorrectly provided bonuses on two occasions.
The latest action also follows another associated-person reporting case earlier this year. In May, Oddit Limited received a warning and SEK1.2m sanction fee after Spelinspektionen found that 10 changes across three occasions had been reported outside the 14-day deadline.
Polar Limited is part of GAN Limited, which became a subsidiary of Sega Sammy Holdings following the completion of Sega Sammy Creation's acquisition of GAN in May 2025. GAN's operations include B2C online gaming activities in Europe and South America alongside its B2B gaming technology business.
The enforcement comes as Sweden's licensed gambling market generated SEK28.2bn in revenue during 2025, up 1.3% year-on-year. Commercial online gambling and betting accounted for more than SEK18bn, while the country's overall channelisation rate declined from 85% in 2024 to 84% in 2025.
Swedish enforcement has also continued against operators outside the licensing system. Earlier this month, Spelinspektionen prohibited those responsible for Stakes.com from offering gambling to Swedish consumers without a local licence.
Before Sweden introduced its current licensing system in 2019, less than 50% of gambling in competitive market segments was estimated to take place with authorised operators
