Sweden’s AB Trav och Galopp reports increased revenue for H1
AB Trav och Galopp (ATG) has reported revenue of €255.2m, up 3.8 per cent year-on-year.
Sweden.- The Swedish horseracing betting operator AB Trav och Galopp (ATG) has reported revenue of SEK2.64bn (€255.2m) for the six months to June 30. That’s an increase of 3.8 per cent compared to H1 2020.
However, quarterly revenue for Q2 was down 9.2 per cent year-on-year at SEK1.584bn, with net gaming revenue down 4.2 per cent to SEK1.37bn.
Most of ATG’s revenue continues to come from its main horseracing vertical. However, at SEK2.15bn for the first six months of the year, the vertical’s revenue fell slightly after last year’s spike in interest while other sports were suspended due to the Covid-19 pandemic.
Revenue from betting on other sports more than doubled to SEK319m in H1, but casino revenue fell 18.4 per cent to SEK169m following the introduction of a SEK5,000 per month deposit limit for Swedish online casino gaming last July.
Most of ATG’s revenue for the six months came through online channels (SEK2.14bn, up 12 per cent), while land-based revenue fell 21 per cent to SEK496m. Almost all of the operator’s revenue came from Sweden, but Denmark’s contribution grew by 34.8 per cent to SEK93m.
Operating profit for H1 came in at SEK930m. ATG’s final profit for the half was down 8.5 per cent year-on-year at SEK888m.
ATG chief executive Hasse Lord Skarplöth said: “A look in the rear-view mirror until last year shows that our figures for the second quarter of 2020 were exceptional. To be able to match that quarter this year would be difficult.
“But the numbers were better than expected. We had provided for an even larger decline during the quarter. And in comparison with the ‘normal year’ of 2019 we saw a growth in net gaming revenue of 25 per cent.”
Last month, ATG confirmed that it would no longer accept customer registrations from non-nationals.
In June, ATG received a warning from Sweden’s national gambling regulator Spelinspektionen for breaching sports betting regulations.
It breached a prohibition of betting on the performance of athletes aged under 18 by accepting bets on a jockey aged under 18.
