Svenska Spel Q2 report is out, and the company managed to keep things on an even keel despite new challenges. Net gaming revenue came in at 1,839 MSEK, almost identical to the same period last year. Svenska Spel Q2 report also highlights continued momentum for its sports betting arm, Oddset, which kept attracting new players.

  • Net gaming revenue held steady at 1,839 MSEK compared to 1,837 MSEK last year. Growth in lottery games, especially Eurojackpot, helped keep numbers up. Eurojackpot set new sales records, and Triss had a strong Mother’s Day push, which made up for dips in other areas.

  • Operating profit dropped by 17% to 545 MSEK, mainly due to the higher gaming tax that kicked in last summer. The operating margin fell to 30% from last year’s 36%. That tax hike took a clear bite out of the bottom line.

  • Sports betting under Oddset continued to perform well even against tough comps from last year’s big sports events like the football Euros. Big draws such as the Ice Hockey World Championship and Eurovision helped bring in fresh players. The segment remains a key growth driver in the Svenska Spel Q2 report.

  • Revenue from Vegas, which focuses on gaming machines in restaurants and bingo halls, fell by 13%. This slide is linked to stricter responsible gaming efforts and the tough market situation for partners. There was, however, a bit of a rebound toward the end of the quarter.

  • Online gaming kept moving up, growing 5% and now making up 62% (Q2 2024: 60%) of total net gaming revenue with 1149 MSEK (Q2 2024: 1098 MSEK). Within this, mobile accounted for 54% (Q2 2024: 51%). At the same time, revenues from retail partners and agents slipped, showing how the shift to digital is picking up speed.

  • Svenska Spel rolled out a new game, Lyckoplatsen, where players pick their “lucky spot” on a map and can support charities by donating part of their bet. The list of charity partners has grown, giving players more ways to contribute.

  • In April, Svenska Spel shut down Casino Cosmopol in Stockholm after a government decision to phase out land-based casinos. The process of selling the landmark building is underway, and operations are being wound down gradually.

  • “The growth in our sports betting continues this quarter,” CEO Anna Johnson said in the Svenska Spel Q2 report. She also took the chance to thank all employees for their hard work and stressed the importance of providing a safe, fun gaming environment.

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