Sweden’s gaming regulator said that while gross online gaming revenue is up slightly for the first three quarters of the year, revenue for licensed operators declined and the country is still being hurt by unlicensed operators.
New online gambling regulations are scheduled to go into effect in Sweden in 2019.
Gross gaming revenue in the Swedish market increased by 1.2 percent to SEK16.8 billion (US$1.86 billion). Companies that hold licenses in the county generated SEK12.2 billion (US$1.35 billion) in the third quarter, down 2.4 percent year-on-year, whereas unlicensed firms saw their collective revenue climb 12.4 percent to SEK4.5 billion (US$500 million).
Svenska Spel remains Sweden’s largest gaming operator with SEK6.4 billion in revenue, down 1.6 previous year, due in part to a 9 percent in land-based gaming revenue. Online gaming revenue actually increased 23 percent year-on-year.
For the first nine months of the year, licensed operators held 73 percent of the total market share, compared to 27 percent of companies without permits. Online gambling revenue was up 12.9 percent, but land-based gaming revenue fell 8.4 percent over the same period.
Sweden is introducing new gambling regulations on January 1 which legalizes online gaming and sets an 18 percent gross gaming revenue tax.
The Lotteriinspektionen regulator has received about 22 applications for licenses since it began accepting applications in August.
