Sweden’s state-owned former gaming monopoly Svenska Spel reported an increase of revenue in the digital part of its business during the first half of the year. This allowed the company to overcome less success in its brick-and-mortar casinos and retail business, due to competition, CDC Gaming Reports wrote July 18.
Svenska Spel reported net gaming revenues of SEK 1.97bn (£150 million/€170 million/$190 million) in the first half of 2023, a slight increase over the SEK1.96 billions of 2022.
Because Sweden is now allowing non-state-owned gaming companies to compete in the marketplace, revenues for Svenska Spel have taken a hit. Currently online revenue, which grew 9 percent during this period, accounted for 52 percent of the company’s revenue.
The company’s CEO and President Patrik Hofbauer said in a statement:
“We continue to simplify and improve the gaming experience for customers and our focus on sustainable gaming has a positive effect.” He added, “The share of healthy revenues and the number of sustainable customers is increasing, while risky gambling is decreasing.”
The company’s sportsbook and casino segment also rose by 6 percent over the same quarter in 2022.
