Sweden: gambling revenue falls in 1Q20

Total Gambling revenue in Sweden fell by 1.4% in the first quarter of 2020 despite online revenue increasing by 7.6%.

Sweden.- The gambling regulator Spelinspektionen has reported that total gaming revenue in Sweden fell by 1.4 per cent year-on-year in the first quarter of 2020. 

Revenue for January to March reached SEK5.90billion (€559million) according to initial data from the Swedish Tax Agency.  

A year-on-year 7.6 per cent increase in online gambling revenue to SEK3.66billion was not enough to make up for the drop in revenue from the state lottery and state casino Cosmopol as a result of Covid-19.

Revenue from Svenska Spel Tur division’s national lotteries and Vegas gaming machine halls fell 20.6 per cent to SEK1.13billion.

Land-based casinos operated under Svenska Spel’s Casino Cosmopol brand generated SEK196million, down 16.2 per cent.

The numbers make 2020 Q1’s revenue the lowest for any quarter since the opening of the current regulated market at the start of last year. 

Spelinspektionen said that it does not have exact figures on how much revenue unlicensed operators make from the Swedish market but recognised that H2 Gambling Capital had estimated the figure to be around SEK606million-SEK715million for the quarter.

Trade associations in Sweden have criticised the deposit limits for online gambling introduced last month as contradictory after the minister Ardalan Shekarabi proposed an amendment that aims to exempt sports betting from the measures.