Svenska Spel lottery and online gambling drive growth despite gaming hall decline
Revenue was up 7 per cent in the last quarter.
Sweden.- The state-controlled gambling operator Svenska Spel has reported net gaming revenue of SEK1.87bn (€199.4m) for the three months ending September 30. That’s a 7 per cent increase compared to the same period in 2024.
The growth was primarily driven by the Tur lottery and Sport & Casino divisions, which more than compensated for a drop in the Vegas gaming machine segment and the closure of the last Casino Cosmopol land-based casino in the first half of this year.
The Tur lottery remained the company’s largest revenue contributor, generating SEK1.31bn. Revenue was up 7 per cent year-on-year, boosted by high Eurojackpot prizes and a Lotto relaunch. The Sport & Casino segment generated SEK489m, up 9 per cent amid growth in both online casino and sports betting under the Oddset brand. Digital channels continued to gain ground, with total online revenue up 15 per cent at SEK1.22bn. That’s 65 per cent of all revenue, up from 60 per cent a year earlier.
Meanwhile, land-based revenue from the Vegas gaming machine brand dropped 10 per cent to SEK78m, which the company attributed to a decline in partner venues and general economic headwinds in the hospitality sector.
Operating profit rose 18 per cent to SEK718m, partly due to reduced staffing expenses following casino closures. Pre-tax profit was up 22.8 per cent at SEK739m, and net profit rose 18.5 per cent to SEK584m.
For the first nine months of 2025, the group reported SEK5.56bn in net gaming revenue, a 2 per cent increase year-on-year. Operating profit rose 8 per cent to SEK1.90bn and net profit by 8.3 per cent to SEK1.54 billion.
Proposals for Swedish gambling market
Svenska Spel recently proposed what it described as “18 concrete solutions” for a better functioning Swedish gaming market and stronger protection for consumers. However, the proposals haven’t all gone down well with other operators. Competitors were particularly critical of the proposal for a new system of risk classification for gambling products.
The operator argues that legislation should distinguish between forms of gambling with different levels of risk. High-risk gambling such as online casinos should be subject to stricter requirements, it says, including tighter marketing restrictions.
Another core proposal is stronger consumer protection measures for younger customers. Svenska Spel proposes that under 25s have stricter gambling limits and faster care interventions. It also proposes a ban on direct marketing to this age group.
