May 28, 2020

Sweden: gambling revenue falls despite growth of online gaming

Sweden: gambling revenue falls despite growth of online gaming

Sweden—Licensed gambling operators in the country reported total revenue of SEK 5.90 billion ($613.3 million) for the first quarter of 2020—down by 1.4% from 2019. This figure was based on recent research from the Swedish gambling regulator Spelinspektionen and the Swedish Tax Agency.

The revenue figure was considered the lowest for any quarter ever since the country opened its re-regulated market on January last year. While online revenue grew, revenue for land-based sectors or those that relied on retail sales declined substantially owing to the effects of the novel coronavirus (Covid-19) pandemic.

A huge chunk of the revenue came from online betting and gaming, up by 5.2% year-on-year to SEK 3.66 billion.

National lotteries revenue, from those operated by Svenska Spel’s Tur division, and gaming machine halls under the operator’s Vegas brand, went down by 20.6% to SEK 1.13 billion.

Revenue generated by land-based casinos operated by Svenska Spel under the brand Casino Cosmopol amounted to SEK 196 million, down by 16.2%.

Non-profit lotteries generated around SEK 817 million in revenue during the quarter, down by 2.5%, whereas non-profit bingo halls made SEK 817 million, down by 10.3%. Restaurant casinos contributed an additional SEK 52 million, up by 8.3%.

The Spelinspektionen explained that while it is unable to provide exact figures on how much unlicensed operators make from the Swedish market, the H2 Gambling Capital calculates this figure to be around SEK 606 million- SEK 715 million for the quarter.

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