Summary
- Svenska Spel has published its interim report, showcasing its financial performance and accomplishments from January to March 2025.
- The Group's revenue dropped by 4% in the first quarter due to sector challenges and the implementation of stricter responsible gambling measures.
- Anna Johnson, the CEO and President of Svenska Spel, discusses the latest developments.
Svenska Spel, the state-owned company in Sweden's legal gambling market, has published its latest interim report, showcasing several achievements from the first quarter of 2025, covering the period ending March 31.
Responsible gambling measures and other challenges result in a revenue dip
Svenska Spel reported a slight decline in overall revenue, which was somewhat mitigated by growth in its online sector. The state-owned gambling company recorded a net gaming revenue of SEK 1,876 million, reflecting a 4% decrease compared to the previous year. Similarly, the Luck segment saw a 1% year-over-year decline during the latest trading period. Conversely, the company's sports and casino division maintained revenue levels consistent with the first quarter of the previous year. Svenska Spel stated, The sports betting offerings under the Oddset brand continue to drive growth, having been enhanced this quarter for an improved gaming experience. In the first quarter, the Vegas business experienced a 26% year-over-year drop in net gaming revenue. According to the company, this was due to the recent implementation of stricter responsible gambling measures in Sweden, along with challenges posed by the current economic climate. Meanwhile, Casino Cosmopol's net gaming revenue plummeted by 61% year-over-year, largely due to the phased closure of two casinos, which had been partially operational during the first quarter of last year. Recently, Swedish lawmakers approved the closure of Svenska Spel's last remaining brick-and-mortar casino, Casino Cosmopol, ending the era of land-based casinos in the country.
Svenska Spel retains focus on growth and transformation
Despite a drop in revenue and challenges for land-based casinos, Svenska Spel successfully launched a new game during the first quarter of this year. The game, called Lyckoplatsen, received positive feedback from players nationwide. Moreover, the company experienced a boost in its online business, with a 7% year-over-year revenue increase during the most recent trading period. Anna Johnson, the CEO and President of Svenska Spel, said, Amid last year's significant changes, including our reorganization, we have made room for investments in our core areas—growth, sustainable gaming, and transformation. She added, Having the capacity for investment demonstrates that we are on the right track and aligns with our strategy to create sustainable long-term value.
