Svenska Spel revenues jump 7% to SEK1.97bn

Finance News

Svenska Spel’s operations are up and running again – for the first time in more than fifteen months. The Group’s revenues grew during the quarter, as did customer bases and the proportion of online games. 

The most gratifying news is that Casino Cosmopol in Malmö, Gothenburg and Stockholm are open and welcome guests back since 7 July. This is shown by Svenska Spel’s interim report for January – September 2021, which is presented today.

The Group’s net gaming revenue for the third quarter is SEK 1,973 M (1,848), an increase of 7 percent compared with the same quarter last year. The operating profit of SEK 696 M (531) is an increase of 31 percent and the operating margin amounts to 35 percent (29).

The customer bases for the Sport & Casino and Tur business areas are growing steadily and the proportion of online games is increasing by 8 percent compared with the same quarter last year. The digital business now accounts for 47 percent (47) of the Group’s revenues.

Net gaming revenues for the Sport & Casino business area grow by 7 percent compared with the same quarter last year. This is despite the fact that sports games face tough comparative figures from the corresponding quarter last year, when the range of sports was unusually large after previous closures. For the Tur business area, net gaming revenues decrease by 2 percent, but with a stable development over time.

The guests have found their way back to the group’s three Casino Cosmopol since the opening on 7 July. The Casino Cosmopol & Vegas business area increases net gaming revenues by 65 percent compared with the same quarter last year when the casinos were completely closed. The opening has taken place step by step with restrictions on the number of guests and in accordance with the authorities’ recommendations. The Vegas vending machines continue to be affected by the temporary gambling liability measures, even though the restaurant restrictions have eased.

– We continue to provide our customers with entertaining gaming experiences in a responsible manner, and we report growth in terms of revenue as well as customer bases and online gaming. With all our operations finally open again, more employees back in our offices and high energy in the organization, it looks positive going forward for the entire Swedish gaming company, says Patrik Hofbauer, President and CEO of Svenska Spel.

At the end of the quarter, Sweden’s most popular lot Triss turned 35 years old. One of the biggest wins during the quarter was at Triss with 30 million going to a winner at KlöverTriss. During the quarter, 57 million winnings were distributed on number games and tickets to a total value of almost SEK 194 million. Stryktipset has also delivered million profits, a total of 32 million profits so far this year, of which as many as 15 during the quarter.