The Swedish betting operator has reported record net revenue of SEK5.35bn (€525.7m) for 2020.
Sweden.- The horse racing betting operator ATG has reported a 20.8 per cent increase in revenue for 2020 to a record SEK5.35bn (€525.7m).
The operator put the record revenue down to the continuation of horse racing in Sweden right through the Covid-19 pandemic, with no interruption to figures unlike in most other jurisdictions.
Total revenue, which includes agent revenue and other income, climbed 19.4 per cent year-on-year to SEK6.33bn.
Online sales rose 31.3 per cent due to the pandemic, hitting SEK3.98bn, while retail revenue fell 6.9 per cent to SEK1.21bn.
ATG president and chief executive Hasse Lord Skarplöth, said: “There are two underlying factors to these figures. First: that ATG in recent years invested heavily to be able to deliver on customer expectations.
“Number two: when the rest of the sports world was shut down due to Covid-19, professional competition activities in Sweden could continue in a safe way thanks to the fact that all spectator space was closed.”
New verticals for ATG
ATG has expanded its range of products to include casino gaming following the opening of the Swedish market to private competition in 2019, but Swedish horse racing betting still makes up the bulk of its income at SEK4.54bn, up 18.4 per cent year-on-year.
Danish bets on horse racing via the subsidiary Ecosys contributed another SEK42m.
ATG’s revenue from Swedish sports betting climbed 48.8 per cent to SEK378m while casino revenue climbed 13 per cent to SEK288m.
Danish sports betting contributed SEK30m, while Denmark also contributed SEK82m via casino gaming.
ATG’s profit for 2020 came in at SEK1.75bn, an increase of 50.5 per cent compared to 2019.