ATG reports record SEK1.3 billion in first-quarter revenue

Finance News

ATG’s net gaming revenue was 1.3 billion and increased by 9 percent compared to the same period last year.

All figures refer to the entire ATG Group and the first quarter of 2024, all comparisons are with the same period last year unless otherwise stated.

Net gaming revenue, which is the highest ever for the first quarter, was SEK 1.3 billion, an increase of 9 percent. The net gaming revenue includes ATG®’s three gaming areas: horse, sports and casino, in both Sweden and Denmark. ATG’s largest and most important gaming area, the horse game, increased by 13 percent.

In addition to positive calendar effects with an early Easter weekend, we had more jackpots on our major gaming brands than during the same period last year. We also face a, for the horse game, weak quarter in 2023 with a very good 2024, which contributes to the strong increase in the comparison, says Lotta Nilsson Viitala. Sports betting was down 11 percent, an effect of many favorite wins during the period resulting in lower net gaming revenue. ATG is still the largest betting company in sports betting.
The casino’s net gaming revenue increased by 14 percent. The growth comes mainly from the number of customers continuing to increase.

Both sports and casino have taken a strong position in the market since the start in 2019 and continue to grow in number of customers. Together, they now account for approximately 23 percent of the group’s net gaming revenue, revenue that leads to good results on the bottom line.
ATG’s subsidiary in Denmark, 25syv, continues to gain market share and had growth of 9 percent.
Total revenue, customers and gaming liability
The group’s total revenue amounted to 1.5 billion, an increase of 9 percent.
The number of active customers was approximately 1.4 million, which is an increase from 1.3 million.

ATG has many and committed customers and it is very important to us that they feel good about their gambling. We therefore continue to develop our gambling responsibility in different ways, says Lotta Nilsson Viitala. To make gambling responsibility work clear, ATG reports the proportion of green customers and proportion of green turnover based on self-tests and actual gambling behaviour. 197,000 Swedish customers have done the self-test. Of these, 88 percent are green in their gambling and the share of green turnover is 80 percent. Both numbers have been very stable over a longer period of time.

The group’s costs including gambling tax were 1.1 billion. The costs have increased by SEK 50 million, which is a consequence of the increased net gambling revenue, which in turn is the basis for gambling tax, rights costs and commissions. After the gambling tax, ATG’s second highest cost item is the purchase of equestrian information and rights from Swedish Trotting and Swedish Gallop, a cost that increases as a result of increased betting on horses.

ATG’s operating profit was SEK 389 million, an improvement of SEK 72 million. The operating margin is 26 percent and has increased from 23 percent. Another way to see how ATG is actually doing is to look at the parent company’s earnings before transactions with the owners, it was 567 million or 38 percent of total revenue.

Being an efficient company and having a high result is important to us because ATG is and must remain the driving force in the Swedish horse industry. Our entire surplus goes to Swedish Trotting and Swedish Gallop, says Lotta Nilsson Viitala.