Operators In Sweden Generating Increased Income

August 26, 2019 by

According to Spelinspektionen, Sweden’s licensed carriers produced a net income of SEK6,082bn (£ 510m/€560m/$630 m) in the second half of the year. During the first half of the year, the figure for the three months to 30 June depicted a general rise of 3.2 per cent, with the country’s iGaming market opening January 1. Over half (56.7 per cent) of the total revenue was produced through online betting and gaming, increasing in the first three months of 2019 from SEK3.36bn to SEK3.45bn in Q2. The numbers include gambling offered on cruise ships.

Revenue from Svenska Spel’s government lottery and land-based slot machines decreased from Q1, down from SEK1.42bn to SEK1.41bn, while income grew to SEK245,000 from its land-based Casino Cosmopol company. Meanwhile, non-profit revenues of lottery increased to 925,000 by 10.4 per cent quarter-on-quarter.

While Spelinspektionen had earlier advised against comparisons with 2018 owing to the legislative shift at the beginning of the year, the 2019 statistics–collected by the regulator alongside the Swedish Tax Authority (Skatteverket) and H2 Gambling Capital–indicate that automation has a beneficial effect on channelling users to legal offers. Net sales through unlicensed carriers dropped from SEK383,000 to SEK324,000, a quarter-on-quarter decrease of 15.4 percent. Spelinspektionen reported that approximately 91 percent of all gambling income was produced by registered providers during the first quarter of the year. A total of 83 businesses were authorized to work in Sweden as of August 2019, excluding non-profit organizations authorized in the nation to deliver gambling products.

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