Sweden’s state-owned gaming operator, Svenska Spel, has continued its positive growth path in the first three months of 2016.
In the first three months of the year, Svenska Spel, Sweden’s state-owned gambling monopoly, has seen a continuation of the positive growth trend that defined 2015, according to the group’s CEO, Lennart Käll.
“The start of 2016 has the same positive trend as the ending of 2015,” Käll said in an interim report presentation last month. “We are growing across all gaming categories: games of chance, sports betting and casino games. Among our channels, online remains strong, games on mobile and tablet increased by 67 per cent. Our financial results show that it is possible to combine growth and responsible gaming.”
Svenska Spel was formed through the 1997 merger of the two state-owned entities, Penninglotteriet (‘The Money Lottery’) and Tipstjänst (‘Tip service’). Through its subsidiary, Cosmopol Casino, it operates four casinos in Stockholm, Gothenburg, Malmö and Sundsvall.
In the three months to March 31, net gaming revenue for the operator totalled SEK2.28bn (E246m), up 4.4 per cent on the prior-year period. Net income rose 5.6 per cent to SEK1.27bn (E136m).
While Käll said Svenska Spel’s online segment continue to lose market share due to the influx of unregulated overseas providers, its online operations still grew by 16 per cent in the January to March period, with games on mobile and tablet increasing by a full 67 per cent.
“During the first quarter we launched a new website for our customers,” the CEO noted. “With a clearer navigation, smart tools and attractive gaming services, we provide customers an interesting and secure gaming experience. We are working hard to listen to and address our customers’ requests to improve our products and services on the new site. To further enhance customer and shareholder value, innovation is a priority area within the company. Here we have several exciting initiatives underway.”
Summarising the group’s performance in the first quarter, Käll said: “The final outcome speaks for itself: responsible gaming and profitable growth can be combined. Our overall strategy, ‘Experience through Responsibility’, creates value for the company and gives an exciting and safe gaming experience for customers. With a strong market position, customer satisfaction and an established culture of responsibility, we are well equipped for the future.”