Sweden’s Svenska Spel reported a 7.6% year-on-year rise in net profit during the first half of 2025 despite posting a drop in revenue on the back of declines across its retail slot machine and sports betting businesses.
However, after excluding discontinued land-based operations in Q2, net profit dropped 30.9% from the previous year to SEK345 million [$35 million].
This was in part due to the increased gambling tax implemented in Sweden in July 2024.
The 18% tax rate resulted in an operating profit decline of 17.2% to SEK545 million in Q2. Profit before income tax was 19.1% lower than the previous year at SEK541 million, with profit from continued operations down 16.6% to SEK423.
