Svenska Spel reported a steady Q1 performance as growth in its online and lottery segments offset the continued decline of its land-based operations, highlighting the operator’s shift towards a fully digital-first model in Sweden’s tightly regulated market.
Net revenue for the three months to 31 March hit SEK1.88bn [$204m]. This, the state-owned operator said, was 2% more than in the previous year.
However, underlying performance varied across segments, with growth in online and lottery offsetting continued declines in retail. The Tur lottery division remained the group’s largest contributor, delivering stable revenue during the quarter, while the Sport & Casino segment saw growth driven primarily by digital channels.
