Svenska Spel talks up long-term growth prospects despite H1 declines

Svenska Spel talks up long-term growth prospects despite H1 declines

Article brief provided by iGaming Business
  • Robert Fletcher, iGaming Business
July 17, 2024 7:55 PM

Svenska Spel CEO and president Anna Johnson says despite reporting a decline in revenue and net profit during H1, recent action taken by the operator will support growth plans in the longer term.

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Publishing interim H1 results [Tuesday], Svenska Spel notes a 2.9% drop in net gaming revenue to SEK3.82bn ($360.6m).

This, Johnson said, is primarily down to its strengthened responsibility measures. These include income checks on high-staking players and an increase in welfare calls. Last month, Svenska Spel also said it would begin reporting the proportion of revenue it generates from customers with a lower risk of gambling problems.

Johnson, who only took over as CEO a month ago, also references the recent decision to close two of its land-based casinos and the impact of this on revenue.