Svenska Spel revenues up 4%
The Group’s net gaming revenue for the fourth quarter is SEK 2,476 million, which is four percent higher than the same quarter last year.
Excluding non-recurring income, this is a two percent reduction, which gives a more fair comparison. Due to the new gaming tax, the operating margin of 31 percent is significantly lower than last year. With adjustment for gambling tax, it amounted to 50 percent (52).
For the full year 2019, this means net gaming revenue of SEK 8,579 M (8,784), a decrease of two percent and excluding one-off income a decrease of four percent.
The result for the Group is SEK 2,716 M (4,522), a decrease which is mainly due to the gaming tax that was introduced in the re-regulation of the gaming market. The Swedish gaming market as a whole has had a negative growth in 2019. Our result for the quarter is therefore in line with expectations even though the ambition ahead is higher. The most important thing during the year has been to stabilize the business after the major transition to a new gaming market, which we have now done, which means that we are well equipped for the future.
We are entering the new year with an aggressive focus going forward, but with continued concern for our customers, ”says Patrik Hofbauer, President and CEO of Svenska Spel.