ATG upbeat despite dip in revenue in 2022
ATG’s revenue fell by 1.2 per cent in 2022 despite strong performance in sports betting and casino.
Sweden.- Aktiebolaget Trav och Galopp (ATG) has published its full-year results for 2022. Revenue came in at SEK6.04bn, down by 1.2 per cent year-on-year. That comprised SEK5.22bn in net gaming revenue (down 0.6 per cent), SEK234m in agency income and SEK584bn in other income.
Of ATG’s gaming revenue, SEK4.94bn came from Swedish operations and SEK283m from Denmark. Revenue from betting on horse racing totalled SEK4.04bn, sports betting SEK650m and online casino SEK530m.
CEO Hasse Lord Skarplöth said the results were strong, especially in sports betting and casino, considering the challenging economic situation.
He said: “I ended last year’s CEO speech by saying ‘we can look forward to an exciting 2022’. So, a year later, I can say that I got a little more right than I wanted – but in the wrong way. During such a turbulent and troubled year, ATG succeeded in increasing the gaming revenue in both sports and casino by 8 per cent and 49 per cent respectively, which is a strong result.”
ATG paid SEK1.07bn in gaming tax, up 1 per cent. Personnel costs grew to SEK529m and other expenses to SEK2.51bn. Operating profit was down 12.1 per cent at SEK1.68bn. Profit after tax was down 11.1 per cent at SEK1.35bn.
As for fourth-quarter results, revenue was up 2.8 per cent at SEK1.55bn. Net gaming revenue was SEK1.33bn, agency income SEK58m and other income SEK57m. Profit after tax was down 16.6 per cent year-on-year at SEK135m.
This year saw the three biggest Swedish gaming operators – the state-controlled Svenska Spel, ATG and private operator Kindred Group – publish their first joint report on problem gambling interventions. The key metric report outlines each operator’s problem gambling rates and interventions.
The report will be submitted to the Swedish gambling regulator Spelinspektionen every six months. It provides updates on four metrics with the aim to “contribute to a facts-based dialogue on what is being done to reduce gambling harm”.
ATG reported contacting 1.4 per cent of customers. A little over half reduced their gambling and 64.9 per cent lowered their average spending.
See also: European Commission notified of Swedish gambling amendments