Sweden – Competition forces Svenska Spel’s revenues downBy Phil - 27 April 2015
Svenska Spel, the Swedish state-owned gambling operator, has blamed increased competition from foreign operators as the main culprit for a decline in revenue for its first quarter.
GGR for the period until March 31 came in at SEK2.2bn (€233.1m), representing a fall of 4.7 per cent year-on-year. Profit dropped by 4.4 per cent to SEK1.2bn.
Lennart Käll, Chief Executive Officer of Svenska Spel, said: “Competition is tougher than ever. This, combined with the responsible gaming measures we introduced last year, means we did not manage to keep the growth rate required to maintain our market share. Our most important task ahead is that in the context of a clear responsibility to continue to strengthen the customer offering and customer experience so that it becomes even easier and more fun to play with us.”