Sweden state gambling operator keeps growing

sweden

Svenska Spel went through a double digit growth in the third quarter.

Svenska Spel posted double digit online growth in the first nine months of this year.

Sweden.- The state-owned gambling operator Svenska Spel went through a double digit growth in the online sector during the first nine months of the year. the Lotteriinspektionen regulatory body released the results.

The entire Swedish market generated more than US$1.7 billion in revenue in the third quarter, a 5 percent higher than the numbers reported in the same period in 2015. Online revenue showed an important increase of 12 percent to US$152 million.

According to Lotteriinspektionen, Svenska Spel accounted 40 percent of the entire market in the first nine months. On the other hand, the gambling operator reported flat revenue of US$727 million, whilst land-based gambling went down almost a 3 percent to US$570 million.

Despite registering a revenue fall of 1.5 percent to US$237 million in the third quarter, the gambling operator showed mobile sales rise 55 percent because of the launching of a new app for the Euro 2016.