Strong second quarter for Svenska Spel
Svenska Spel has reported a strong second quarter, It is the best second quarter since the reregulation of the gaming market in 2019 with increased net gaming revenue, improved operating profit and strengthened operating margin.
Eurojackpot, Oddset and casino are driving growth, while the World Cup and the partnership with Swedish football contribute to high customer engagement that strengthens the business.
The last month of the quarter was marked by the World Cup, which demonstrates the power of football to bring people together. Svenska Spel has carried out successful activities linked to football, which has created great engagement among customers.
The group’s net gaming revenue amounted to SEK 1,963 million (1,839) during the quarter, an increase of SEK 124 million or 7 percent compared to the corresponding quarter last year. The growth is driven by high customer activity and the fact that the number of customers is increasing in both lotteries and sports and casino games.
Net gaming revenue in the Luck business area increased by 7 percent compared to the same quarter last year. Eurojackpot is the growth engine in the lottery portfolio and in connection with the high jackpot in May, a record was broken in revenue for a single month. Lotto continues to develop positively, while Triss is affected by tougher comparison figures as Easter fell early this year.
For the Sport & Casino business area, net gaming revenue increased by 11 percent compared to the same quarter last year.
The group’s online business increased by 14 percent compared to the corresponding quarter last year. Online accounted for 67 percent (62) of the Group’s revenue during the quarter.