Sweden – Svenska Spel decline ‘according to plan’By Phil - 30 October 2014
Swedish gaming revenues at State-owned Svenska Spel were down 10.9 per cent in the last quarter to SEK2.1bn (€224.4m) although the operator said the losses were ‘according to plan.’
The operator recently cancelled all bonuses and free bet offers, despite acknowledging that its bottom line would be hit.
Operating profit dropped by 14.2 per cent to SEK1.1bn while operating margin dropped from 23.9 per cent to 23.4 per cent.
Svenska Spel, who accounts for 48 per cent of the Swedish gambling market, operates four casinos under the Casino Cosmopol brand in Stockholm, Göteborg, Malmö and Sundsval, alongside lotteries and gaming machines in the country.
Chief Executive Officer Lennart Käll, said: “The decrease is according to plan. In recent years, we have seen the Swedish gambling market evolve in the wrong direction. Therefore, we show the way to a healthier gaming market through the introduction of several gaming action, including compulsory registration. It’s a position that comes before short-term profit motives.”
The sentiment was echoed by Svenska Spel’s recent decision to increase its social responsibility controls by launching Playscan’s behaviour monitoring solution across its suite of video lottery terminals.
It follows the introduction of mandatory player cards earlier this year, with account-based play allowing for a greater range of data to be collected.
Playscan identifies trends in player behaviour and warns users when they are spending over certain limits, or when their habits suggest they are in danger of developing a gambling addiction.
Playscan Chief Executive Andreas Holmström said: “This will provide Svenska Spel with more statistical information for better decision-making, on top of state of the art player protection.”
“We are very happy to now have Playscan linked to our VLTs,” Svenska Spel’s corporate social responsibility manager Zenita Strandänger said of the launch. “The tool creates awareness and informs the player about their gambling habits. Also, internally this will improve our overall responsible gambling initiatives.”