ATG net profit rises 7.5% in 2023

ATG has reported full-year results.
ATG has reported full-year results.

The Swedish gambling operator has reported a 20 per cent rise in casino revenue.

Sweden.- The Swedish gambling regulator Aktiebolaget Trav och Galopp (ATG) has reported full-year net profit of SEK1.45bn (€129.9m) for 2023. That’s a rise of 7.5 per cent year-on-year.

Group revenue was down slightly at SEK6.04bn and net gaming revenue was up by just 1 per cent at SEK5.27bn. However, it reported a reduction in tax and other expenses, although personnel costs were up by 11 per cent.

Horse racing revenue remains the main driver, but fell by 3 per cent to SEK3.91bn. Other sports betting revenue rose 11 per cent year-on-year to SEK722m, and casino revenue rose 20 per cent to SEK 637m. Agency revenue was down 11.1 per cent at SEK208m and other revenue slipped 4.5 per cent to SEK558m.

ATG CEO Hasse Lord Skarplöth said: “I feel proud of the 2023 figures. ATG had growth when the total gambling market landed at plus or minus zero. All this during a year when there is great concern in our world over high prices, interest rates and recession, which affect our customers. In tough times, it is gratifying to see that our 1.3 million customers are still with us.”

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