Key points:
- Overall turnover was down 1.2%
- Commercial online gambling was the only segment to see a rise in turnover
Spelinspektionen, the Swedish Gambling Authority, has released financial results for the gambling industry in the country during the third quarter of 2024.
For Swedish-licensed gambling companies, total turnover during the third quarter reached SEK 6.66bn ($0.61bn), representing a decrease of 1.2% year-on-year, while compared to Q2 2024, represents a drop of 3.4%.
Looking closer at the figures, commercial online gambling was the only sector to see an increase in turnover when compared to the same period last year, going from SEK 4.27bn in Q3 2023 to SEK 4.33bn in Q3 2024.
On the other hand, community games and hall bingo, which over the past year have recorded very consistent financial figures, saw its turnover valued at SEK 50m, the same figure seen in the third quarter of last year.
However, state lottery and slot games saw turnover drop 2.7% to SEK 1.36bn, while turnover for games for public purposes and national lotteries was down 0.6% to SEK 818m.
Good to know: Earlier this year, the Swedish Government proposed the closure of Casino Cosmopol
Land-based commercial gaming experienced a decline of nearly 6% with turnover of SEK 63m. But, it was Casino Cosmopol that suffered the largest decrease, at 76.5%, with turnover valued at SEK 31m.
Similarly, last week, Spillemyndigheden, the Danish Gambling Authority, released its financial figures for September 2024, highlighting that overall spend was down 2.8% to DKK 553m ($78.44m) and that online casinos accounted for 49% of the spending, while land-based casinos were only at 5%.
