The effect of the changeover is now visible for Svenska Spel in the form of lower costs, improved results and a strengthened operating margin. It frees up space going forward for important investments in transformation and growth.

The group’s customer base grows during the quarter. At the same time, a positive trend can be seen for the share of healthy revenue, which shows that the group’s focus on sustainable gaming is paying off. This is evident from Svenska Spel’s interim report for the second quarter of 2024, which is presented today.

We are now starting to see the results of the restructuring we implemented at Svenska Spel. We have carried out a review of organisation, working methods and costs. We have subsequently carried out a reorganization of Svenska Spel with a new organization in place from 1 April. We have also closed down our casinos in Malmö and Gothenburg. This has led to lower costs, an improved result and strengthened operating margin during the second quarter. It gives us an opportunity to invest in transformation, strengthened gambling responsibility work and investments that create growth, says Anna Johnson, president and CEO of Svenska Spel.

Svenska Spel’s customer base grows during the quarter, while the share of healthy revenues develops positively. This indicates that more and more of the customers are increasingly aware of their gambling. In addition to Svenska Spel continuing to strengthen gambling responsibility, the group has decided to start reporting a share of healthy revenues starting at the end of August. The key figure is then included in regular interim reports. This is partly to show that it is possible to run a gambling company in a sustainable way, partly to increase transparency within the gambling industry.

The group’s net gaming revenue for the quarter is SEK 1,872 million (1,967), which is a decrease of 5 percent compared to the same quarter last year. This is partly due to the Casino Cosmopol business area decreasing by SEK 90 million as only one casino was open during the quarter, compared to three casinos in the same quarter last year. It is also due to strengthened gambling responsibility measures that have a negative impact on revenue for all business areas, but have the intended positive effect on healthy revenue. The operating profit of SEK 640 million (550) is an increase of 17 percent. Lower costs contribute to the operating margin increasing and amounting to 34 percent (28).

The net gaming revenue for the Sport & Casino business area decreases during the quarter by 2 percent compared to the same quarter last year. The European Football Championship has had a positive impact on revenues in June, but does not compensate for the negative impact of strengthened gambling liability during the quarter.

The Tur business area has another strong quarter and net gaming revenue increases by 3 percent. Eurojackpot continues to drive growth. At the same time, focused efforts to increase Tris sales have a positive effect on revenues.

The net gaming revenue for the Casino Cosmopol business area decreases by 72 percent. This is because it is only the casino in Stockholm that was open during the quarter, and that revenues were negatively affected by gambling responsibility measures.

For the Vegas business area, net gaming revenue is down by 24 percent, as a result of the tough economic situation for business partners and strengthened gaming responsibility.

For the group as a whole, online business increases by 8 percent compared to the same quarter last year, and accounts for 59 percent (52) of the group’s revenue during the quarter.

During the quarter, an important step was taken to simplify and digitize the customer meeting with agents through channel-independent gaming accounts in stores. Some of the advantages are smoother payout of winnings directly to the customer’s gaming account and reduced cash handling, which simplifies both agents and customers.

At the end of May, the new sports betting platform was launched, which was well received by customers. They are now offered a better customer experience and new gaming opportunities under the Oddset brand.

Before the summer holidays, the new campaign lottery Triss Semestervinsten has been launched. It gives customers the chance to win SEK 50,000 per week for six weeks and thus the opportunity to add a golden edge to the holiday.

During the quarter, Svenska Spel distributed 97 million winnings in number games and lotteries with a total value of more than SEK 307 million. The quarter’s highest profit was SEK 101 million when the Dream Win was won on Lotto. The sports and casino games have delivered 20 million in winnings during the quarter.