The state-owned company operating in the legal gambling market in Sweden, Svenska Spel, released its latest interim report, highlighting a number of accomplishments during the first quarter of 2025 or the three months ended March 31.
Responsible gambling measures and other challenges result in a revenue dip
Notably, Svenska Spel reported a slight decrease in revenue, partially offset by growth in its online business segment.
In total, the state-owned gambling company reported net gaming revenue of SEK 1,876m, a result that pointed to a decrease of 4% year over year.
Similarly, Svenska Spel's net gaming revenue for its Luck business recorded a 1% decrease year-over-year during the latest trading period.
The company explained that the net gaming revenue decrease of 4% is "primarily due to challenging comparative figures for land-based casino and slot machines, as well as strengthened responsible gaming measures," Casino Guru News learned from a press release.
On the other hand, Svenska Spel reported that its revenue from its sports and casino business unit was on par with the result reported during the first quarter of last year.
The company wrote: "The sports betting offering continues to drive growth under the Oddset brand and has been updated during the quarter for an even better gaming experience."
In Q1 this year, Svenska Spel's Vegas business reported a decrease of 26% year-over-year in net gaming revenue. This, the company said, was the impact of the enhanced responsible gambling measures enforced by Sweden recently, as well as other challenges related to the current economic situation.
Casino Cosmopol's net gaming revenue also took a hit by 61% year-over-year. This decrease was attributable to the gradual closures of two casinos that used to partially operate during the first quarter last year.
Only recently, Swedish lawmakers greenlighted the liquidation of Svenska Spel's final remaining casino, Casino Cosmopol, effectively shutting the lid on land-based casinos.
Svenska Spel retains focus on growth and transformation
Despite the decrease in revenue and the impact on land-based casinos, Svenska Spel launched a new game during the first quarter of this year.
The new title, Lyckoplatsen, was well-received by customers across the country.
In addition, the company reported an increase in its online business with its revenue recording an uptick of 7% year-over-year during the latest trading period.
Anna Johnson, Svenska Spel's CEO and President, commented: "Through last year's major changes, including reorganization, we have created space for investments in our focus areas – growth, sustainable gaming and transformation."
"The fact that we have space for investments is also proof that we are doing the right things and part of our strategy to create long-term sustainable value," the executive said in conclusion.
