Swedish state-owned gambling company Svenska Spel has posted its Q2 report, which highlighted its SEK 4m ($390,000) annual increase in net gaming revenue (NGR) for the period ended June.
The total reported net gaming revenue for Svenska Spel stood at SEK 1.97bn, with an operating profit of SEK 550m – itself an increase of 3%, totalling SEK 18m.
Svenska Spel’s Sport and Casino area saw an NGR rise of 6%, which the company attributed to ‘pool games such as Stryktipset, good margins in sports betting, growth for online casinos and a general increase in the number of customers within the business area.’
One drawback for the Swedish operator was its Casino Cosmopol and Vegas business area, which saw revenue fall year-on-year by SEK 29m – 13% down from last year, with operating profit now at SEK -52m.
Patrik Hofbauer, President and CEO of Svenska Spel, said of the results: We continue to simplify and improve the gaming experience for customers and our focus on sustainable gaming has a positive effect. The share of healthy revenues and the number of sustainable customers is increasing, while risky gambling is decreasing.”
For the year so far (H1), net revenue for Svenska Spel totalled SEK 3.94bn – 1% (SEK 45m) up from last year. Meanwhile, operating profit climbed to SEK 1.1bn, rising 3% overall – while the operating margin amounted to 29%.
