In Q1 2023, former state-owned gambling monopoly Svenska Spel announced a 2% increase in revenue to SEK1.98bn ($190m) compared to the SEK 1.94bn the group achieved in the same period the previous year, despite the imposition of new responsible gambling measures.
Svenska Spel reported that the company’s land-based Casino Cosmopol and Vegas slot offering were negatively affected by a “deteriorating financial situation” in Q1, related to tightened consumer budgets and strengthened responsible gambling measures.
Despite these twin pressures, the division experienced a 3% increase in revenue for the three-month period ending 31 March. Svenska Spel said that this was because the retail and land-based casino segments were able to operate at full capacity during the period, compared to the same period the previous year when shortened opening times were operational due to effects of the Covid-19 pandemic.
