Swedish gambling operators report SEK 6.7b turnover in Q1

Swedish gambling operators report SEK 6.7b turnover in Q1

Swedish gambling operators report SEK 6.7b turnover in Q1
The Swedish Gambling Authority (SGA), Spelinspektionen, released its latest report, uncovering details regarding the performance of licensed gambling operators for the first quarter of the year. According to data, disclosed by the gambling regulator, gambling operators holding a Swedish license reported a total turnover of SEK 6.7b ($626.8m). This result, when compared year-over-year, to the SEK 6.58b ($615.6m) figure from Q1 2023, shows an increase of approximately 1%. Despite the year-over-year increase, a quarter-over-quarter comparison shows a decrease in the total gambling market turnover for the latest trading period. In the fourth quarter of 2023, licensed operators reported a total gaming market turnover of SEK 7.12b ($666.1m), a result that was notably higher when compared to the latest SEK 6.7b ($626.8m) figure. Spelinspektionen provided a breakdown of the total gaming market turnover for the first quarter of this year. Per this data, the online gambling and betting turnover reported by commercial operators for the latest trading period hit SEK 4.28b ($400.2m). A year-over-year comparison shows that the latest result pointed to an increase of nearly 2.4%. However, compared to the fourth quarter of 2023, the latest result showed a decrease of 2.4%, considering that commercial online gaming and betting turnover hit SEK 4.39b ($410.4m) in Q4 2023. Spelinspektionen’s recent data reveals that in Q1 2024, the state lottery and slot games revenue was SEK 1.36b ($127.2m). This result represented a year-over-year increase but marked a quarter-over-quarter decrease when compared to the SEK 1.44b ($134.6m) reported in Q4 last year. The reported turnover from state casino games at Casino Cosmopol was SEK 65m ($6.1m). This result marked a decline but doesn’t come as a surprise considering that the operations of the casino in Malmö and Gothenburg were closed during the latest trading period. The turnover of games for public purposes, including national lotteries, hit SEK 856m ($80m). This result was on par with the previous quarters throughout 2023 but fell behind the SEK 1.07b ($100m) result from Q4 last year. Land-based commercial gambling turnover was SEK 53m ($5m). The result was relatively on par when compared to the previous quarters throughout the year. Similarly, hall bingo and other community games also didn’t see a notable increase in turnover with the latest quarter reporting SEK 50m ($4.7m) in turnover. The same figure was reported in Q4, Q3 and Q1 last year. Image credit: Pixabay.com

20 MAY 2024

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