Operator News
Sweden – Svenska Spel enjoys slight revenue increase with online accounting for 52 per cent
By Phil - 25 April 2023
In the quarter when Casino Cosmopol in Stockholm celebrated its 20th anniversary, Swedish state-owned operator Svenska Spel was able to report a strong start to the year with net gaming revenue of SEK 1,976m, marking an increase of two per cent.
The quarter also saw the launch of new games like Momang and improvements to the customer experience in existing games like Keno. The share of healthy revenues and the number of sustainable customers is increasing compared to the same quarter last year, which shows that the measures in responsible gaming are having an effect.
The group’s operating profit was up three per cent and the online business increasing by eight per cent compared to the same quarter last year, and accounted for 52 per cent of the group’s revenue in the quarter.
Net gaming revenue for the Sports & Casino business area increased by two per cent during the quarter compared with the same quarter last year. This is partly thanks to a good development for the pool games, especially Stryktipset and Powerplay.
The Tur business area increased net gaming revenue by two per cent. The increase is also driven this quarter by number games and especially Eurojackpot.
For the Casino Cosmopol & Vegas business area, net gaming revenue increased by three per cent with a complete range of games now being offered again and normal opening hours, in comparison with a limited operation in the same quarter last year. The entire business area was negatively affected by the deteriorating financial situation for customers with Vegas vending machines also continuing to be negatively affected by strengthened responsible gaming measures, which, however, have the intended positive effect on healthy revenues.
Patrik Hofbauer, President and CEO of Svenska Spel, said: “Even in an uncertain time, we continue to create long-term value for customers, owners and employees, as well as for Swedish sports and society at large. We do this by our surplus going to the state treasury and through our support for Swedish sport. But also by offering sustainable and fun gaming experiences.”
“With Momang, a new Pay’n Play online casino, Svenska Spel meets customer demand for simple and smooth games. Keno has introduced winning weeks and new types of prizes where customers can also win experiences. In number games and lottery tickets, it is now easier to play together in the team game service, the subscription service has been improved and Apple Pay has been introduced as a new payment solution.”
During the quarter, Svenska Spel distributed 52m prizes in number games and lottery tickets with a total value of more than SEK291m. The quarter’s two highest prizes were just over SEK32m and almost SEK15m respectively on Eurojackpot. Sports betting has delivered 18 million winnings during the quarter and Europatipset has accounted for more than half of these. The 26th edition of Tips-SM has been held with more participants than last year, about 55,000 people and just over 3,500 teams registered.
Svenska Spel’s image remains the highest among gaming companies. This is confirmed by the external survey Sustainable Brand Index, where the Swedish people rank Sweden’s most sustainable brands. Svenska Spel is the best in the industry and with an improved overall ranking since last year. Svenska Spel has also received the Signum Award for its long-term efforts to nurture the brand.
At the end of March, Svenska Spel reopened the office in Visby after the largest renovation of the premises since the office opened in 1973, which is a major investment in both Gotland and the employees. It is now a workplace with premises that reflect what Svenska Spel is today – a sustainable, modern tech company that offers entertaining and unique gaming experiences.
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