Major decline in turnover for Sweden’s online casino operators

Swedish online casinos have witnessed a rapid decline in sales since government restrictions were imposed in July.

SwedenNew

The major gaming companies in the country have seen a drop in their monthly turnover of around 30%, having been hit with deposit and bonus limits at the beginning of July.

Sweden’s government introduced a deposit limit of SEK5,000 per week on 2 July, in addition to the limit of SEK100 on bonus offers.

The decision came as a response to the current coronavirus pandemic, which is believed to have caused a sharp increase in problem gaming. But it has come at a cost for many companies, with the deposit limit proving particularly troubling, forcing several customers to leave the licensing system.

ComeOn Group saw a dramatic fall in sales from June to August, with their numbers dropping from SEK118 million to SEK83 million during that period.

Spooniker meanwhile saw their turnover decrease from SEK101m to SEK72m, according to Swedish media outlet News 55.

There was, however, positive news for the nation’s sports betting companies, who unsurprisingly fared better due to the return of sporting action.

In these unprecedented times, much of the world’s major leagues and events were brought to a halt in early March. But fortunately for many Swedish companies, equestrian sports continued to reel in both domestic and global customers, with the recent return of football adding to the increase in turnover.

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