Swedish igaming market beats Q3 revenue projections

7 November 2019

The Swedish Gaming Authority (Spelinspektionen) has reported a quarter-on-quarter increase in online gaming revenue for the three months to the end of September, but saw a decline in overall market revenue for the period.

Commercial online gambling and betting, combined with online gaming on ships in international traffic, amounted to SEK3.48bn (£281m/€327m/$362m), up from SEK3.48bn in the second quarter.

The results, based on data provided by the Swedish Tax Agency, come despite Spelinspektionen last month saying that online gaming revenue would decline quarter-on-quarter in Q3.

Overall gambling revenue during the three-month period came in at SEK5.90bn, which is lower than SEK6.11bn in Q2 and also down from SEK5.94bn in the first quarter of 2019.

Revenue from state lottery and slot machine games fell 3.2% from SEK1.41bn in Q2 to SEK1.37bn, while state casino games revenue, all attributable to Casino Cosmopol, remained level at SEK245m.

Data also showed a 20.0% decline in revenue from chairtable games and national lotteries to SEK740m, but there was a slight increase in revenue from land-based commercial gaming at restaurant casinos from SEK54m to SEK59m.

Spelinspektionen also revealed that a total of 41,703 people have signed up to its Spelpaus.se self-exclusion register, up 11.0% from the end of Q2. Through to the start of November, the total number had increased to just over 44,000 people.

In addition, the regulator noted that 92 gambling operators now hold a licence to offer betting and gaming services to the Swedish market.