Svenska Spel’s digital division revenue 20 pct up

The Swedish online gambling monopoly reported its second-quarter revenue results.

Sweden.- Swedish gaming monopoly Svenska Spel has announced that it registered a 20 per cent increase in online sales during the second quarter of the year, ending June 30th. However, overall revenues fell four per cent during that period.

The second quarter of the year was characterised by continued growth in mobile phone, increased sports offer, such as the FIFA World Cup, and the preparations for the upcoming gaming market under a new regulatory scheme.

The company reported that gaming revenues fell four per cent to €190 million in the second quarter of 2018, and operating profit decreased 11.5 per cent to €94 million. However, sales online grew 20 per cent, of which mobile phone sales increased 42 per cent when compared to the same period last year.

Lennart Käll, President and CEO of Svenska Spel, said: “Customers respond positively to the news we deliver, online gaming revenue excluding Vegas is on par with last year, despite the fact that more and more volunteers turn off or break from gaming.”