Svenska Spel posts 7% rise in revenue for Q3 2021 as business returns to normal

By Dominic Marius-Markham

Svenska Spel has taken in nearly SEK 2bn ($232m) for the third quarter of 2021 as all operations are up and running again for the first time in more than 15 months.

Sweden’s state-run gambling group has posted its quarterly performance figures, seeing a 7% increase in Q3 revenue over the same time last year, while it posted an operating profit of SEK 696m, up by 31% from 2020.

With its three Casino Cosmopol properties in Malmö, Gothenburg and Stockholm having reopened in July, the group is on-track for a return to normal levels after struggling through the pandemic.

Q3 saw its land-based operations under the Cosmopol and Vegas brands witness a considerable increase in footfall despite compliance with capacity limits and other government-recommended restrictions.

Svenska’s in-person properties were closed from the end of March 2020 until 7 July 2021 and as a result, this segment experienced a 65% bump in revenues from last year.

“We continue to provide our customers with entertaining gaming experiences in a responsible manner, and we report growth in terms of revenue as well as customer bases and online gaming,” commented Patrik Hofbauer, President and CEO of Svenska Spel.

“With all our operations finally open again, more employees back in our offices and high energy in the organisation, it looks positive going forward for the entire Swedish gaming company.”

With its third quarter figures out, Svenska Spel’s net revenue so far in 2021 comes to almost SEK 6bn, up 7% from the same period in 2020.

In addition, Q3 marks the 35th birthday of one of Sweden’s most popular gaming brands, Svenska-owned Triss, with winnings during the quarter distributed on number games and tickets to the tune of almost SEK 194m.

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