Online growth offsets fall in Sweden’s land-based revenues

Full year gambling revenue in Sweden came to SEK24.69bn (EUR2.44bn), down just 0.4 percent on the previous year. Declines in land based gaming due to the coronavirus pandemic were offset by growth in the online sector.

Online betting and gaming revenue rose 8.1 percent year-on-year to SEK15.16bn. Casino Cosmopol’s land-based casinos were closed for the greater part of 2020. As a consequence of this, the state-owned operator’s revenue was down 79.9 percent to just SEK196m.

Meanwhile, Svenska’s Spel’s Tur state lottery and Vegas line of slot machines saw revenue fall by 8.1 percent to SEK5.44bn.

The continued growth of online revenue came despite new regulations requiring operators to introduce a SEK5000 mandatory deposit cap for online casino games from June. This cap was originally planned to remain in place until the end of 2020, but was subsequently extended until June 2021.