Svenska Spel reports steady gaming revenue amid Casino Cosmopol closure
The Swedish gambling operator’s H1 revenue was flat year-on-year following the closure of its last land-based casino.
Sweden.- The state-controlled gambling operator Svenska Spel saw steady gaming revenue in the first half of the year. That’s despite the closure of its last Casino Cosmopol land-based casino in Stockholm.
First-half revenue held firm at SEK 3.68bn (€320m), with the second quarter generating SEK 1.84bn. Operating profit for the six months was SEK 1.16bn (€100m), falling 17 per cent year-on-year to SEK 545m (€47m). This was put down to the rise in Swedish gambling tax in July last year.
Q2 saw a rise of 1 per cent in revenue from the Oddset sportsbook and from Lotto products, with the Ice Hockey World Championship generating engagement with betting and high-value Eurojackpot prize pots boosting lottery performance. On the other hand, the Vegas slots business saw revenue fall by 13 per cent amid tightened rules on machine placements and reinforced player protection standards.
Online revenue was up by 5 per cent year-on-year and represented 62 per cent of all revenue in the second quarter.
Svenska Spel CEO Anna Johnson stated: “We remain focused amid significant operational changes. Our commitment to customer satisfaction, responsible gaming, and sustainable growth guides our strategy.”
She added: “Digital engagement is showing strong potential. Through ongoing investment in our online platforms, we’re confident this will balance retail losses and strengthen long-term performance. Our goal is to lead not just in market share, but in ethical standards and customer trust.”
Svenska Spel closed its last Casino Cosmopol casino in Stockholm on April 25, marking the end of land-based casino gambling in Sweden. The property is being sold, and the Swedish government has no plans to allow new land-based casino licences.
