Digital growth and a strengthened sports betting offer for Svenska Spel
Svenska Spel’s fourth quarter is characterized by preparations for a new gaming market, but also by continued high growth online, strengthened sports betting offer and sales record for Eurojackpot.
Net gaming revenues decreased during the fourth quarter to SEK 2,390 million, which is 3.7 percent lower than the same quarter last year. The operating margin of 21.2 percent is slightly lower than last year (21.9). The result is affected by non-recurring costs of SEK 78 million for the conversion of the Group into a new gaming market.
For the full year 2018, this means net gaming revenue of SEK 8,784 million (8,980). Costs for conversion to the new gaming market and GDPR, as well as reduced revenue for the vending machines Vegas have contributed to a lower result in 2018 compared to 2017. The result for the Group is SEK 4,522 M (4,709), a decrease of 4 percent.
Svenska Spel’s digital business grew by 14 percent in the fourth quarter compared to the same quarter last year, of which sales in the mobile phone increased by 26 percent. During the period, among other things, a strengthened sports betting offering with a higher repayment was presented at the Oddset, and at the end of October, Eurojackpot beat sales records in connection with a high jackpot.