Tag Archives: Svenska Spel
Svenska Spel’s operating profit shows growth despite three casino closures
Despite three out of its four casinos closing, Swedish operator Svenska Spel said it made a strong end to the year. The Group’s operating profit of SEK 535m (485) showed an increase of 10 per cent compared with the same quarter last year. Lower operating costs contributed to an increase in the operating margin to…
Sweden now likely to close its last remaining casino
The Swedish government is considering closing down the country’s last land-based casino Casino Cosmopol in Stockholm saying it ‘will be phased out as it no longer fulfills its purpose.’ The government has presented a memorandum with proposals for a change in the law that means that land-based casino Casino Cosmopol would close having failed in its challenge…
Svenska Spel’s net profits fall following casino closures in first quarter
Following the closures of Casino Cosmopol in Malmö and Gothenburg in order to reduce losses, Swedish operator Svenska Spel said its first quarter was marked by a period of adjustment as it looks to lay the foundation for continued successful operations. Gaming revenue was down one per cent with the underlying business remained stable with…
Sweden – Svenska Spel Sport & Casino changes the name of its horse games to Svenska Spel Hästar
Due to a dispute with ATG about the name of Svenska Spel Sport & Casino’s trotting venture, the company is now changing the name of its horse games to Svenska Spel Hästar. The judgment in the dispute was announced by the Patent and Market Court of Appeal on January 25. Customers of the horse games…
Sweden – Svenska Spel to close its casinos in Gothenburg and Malmo
As it looks to limit its losses, Svenska Spel has confirmed it intends to close and liquidate Casino Cosmopol in Gothenburg and Malmö although a final decision can only be made after the trade union negotiations have been concluded. This follows the closure of the casino Sundsvall in 2020 and takes Sweden’s total number of…
Sweden – Kambi to power Svenska Spel’s online and retail sportsbook
Kambi Group has signed an exclusive long-term agreement to power the online and retail sportsbook of Svenska Spel Sport & Casino, the former Swedish monopoly operator. Following a competitive tender process, Kambi was selected by Svenska Spel Sport & Casino due to the strength of its sportsbook product, its commitment to upholding the highest levels…
Sweden – Svenska Spel enjoys slight revenue increase with online accounting for 52 per cent
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…
Sweden – BOS reiterates call for Svenska Spel to off load gambling interests
BOS, the Swedish Trade Association for Online Gambling, has again called on state-owned Svenska Spel to sell its interests in the casino and betting industry and end the government’s involvement in the commercial gambling sector. Since 2019, Sweden has had a licensing system for gambling companies with two types of gambling markets; partly a monopoly…
Sweden – Svenska Spel sees focus on sustainable gaming increase the share of ‘healthy’ revenues
The proportion of what its calls ‘sound revenues and healthy customers increases’ have increased for Swedish gambling operator Svenska Spel during the second quarter of the year thanks to strengthened responsible gaming measures. The Group’s revenues increased as Casino Cosmopol has been open this year, following the COVID closures enforced by the pandemic. The Group’s…
