Swedish operator Svenska Spel reports net revenue decrease in rocky Q1

Swedish operator Svenska Spel reports net revenue decrease in rocky Q1

Article brief provided by iGaming Business
  • Marese O'Hagan, iGaming Business
April 27, 2022 10:08 PM
  • Marese O'Hagan, iGaming Business

Swedish lottery and gaming operator Svenska Spel has reported net gaming revenue of SEK1.93bn [$US196m] for the first quarter of 2022, as only one of its main business segments experienced revenue growth.

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This was a decrease of 3.2% year-on-year, which Svenska Spel attributed in part to the cancellation of sports games and limited casino opening hours at the beginning of 2022 due to the Covid-19 pandemic.

In terms of business areas, Svenska Spel’s Tur offering – its lottery business – reported revenue of SEK1.13bn for the first quarter. This was down 6.3% compared to Q1 2021.

Online sport and casino made up SEK556m of the total net revenue, a decrease of 14.1%.