Svenska Spel has published its interim report for 2023, highlighting stable revenue. The year saw Svenska Spel earn a total net revenue of SEK 8,029 million ($766 million), in line with last year’s results. This followed a stable fourth quarter in which the company recorded net gaming revenue of SEK 2,121 million ($202 million) – a 3% year-on-year decrease.

Furthermore, Svenska Spel reported an operating profit of SEK 485 million ($46 million) in Q4, representing a decrease of 16%. The operating margin for the period also declined to 23%. The company’s full-year results, meanwhile, demonstrated an operating profit of SEK 2,333 million ($222 million) and an operating margin of 30%.

Net profit for the year, meanwhile, stood at SEK 1,941 million ($185 million), representing a 3% year-on-year decline.

Svenska Spel added that its board is planning to pay out a SEK 1.9 billion ($181 million) dividend.

Some of Svenska Spel’s Brands Continue to Struggle

The lower Q4 results were attributed to a decrease in the income of Casino Cosmopol and Vegas caused by lower customer demand and ongoing restructuring activities. Net gaming revenue of this segment was down by 25% as the sector continues to experience fierce competition from the online market.

Svenska Spel was forced to offset this decline by reducing the workforce of Casino Cosmopol, laying 220 full-time positions off, which included roughly 100 redundancies. Svenska Spel also intends to close its casinos in Malmö and Gothenburg to face the ongoing financial challenges. The casino in Stockholm will continue operating normally.

In Q4, the Tur lottery revenue experienced a net gaming revenue decline of 2% year-on-year. The sports & Casino segment, on the other hand, experienced a 7% increase in net gaming revenue thanks to an increase in active customers and sales.

An Eventful Year for Svenska Spel

In Q4, Svenska Spel’s healthy revenue portion increased to an all-time high. Svenska Spel was also the most sustainable gambling company in the Sustainable Brand Index and was among the top 10 best employers, according to Universum’s annual survey. In addition, the company paid SEK 35 million ($3.3 million) to 8,654 associations in youth sports through its Gräsroten initiative.

Meanwhile, 2023 saw Svenska Spel’s Sports & Casino segment launch a new poker platform and Momang – a new online casino. The Tur brand, on the other hand, launched Supportern, a digital lottery for Swedish sports associations.

The year also saw Svenska Spel select Kambi as its new sportsbook provider, allowing it to enhance the Oddset brand.

Erik Strand, Svenska Spel’s president and CEO, commented on the results, praising his team for their dedication to sustainable gambling.

Our continued focus on sustainable gaming is having an effect and the share of healthy revenue is increasing compared to the same quarter last year. The number of sustainable customers is also increasing to the highest level ever.

Erik Strand, president & CEO, Svenska Spel

Speaking of Sweden, BOS’s chief recently discussed the ban on online gambling advertising in public transport, expressing his disagreement with the measure.

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Betsson Group has published its interim report for the period between July and September, highlighting new record numbers. The company’s metrics increased across the board as it channeled more active customers toward its products.

As reported, Betsson’s group revenue for the period was EUR 237.6 million ($251 million), representing an increase of 19% and an organic increase of 39%. Casino revenue in particular increased by 27%, while sportsbook revenue increased by only 2. The sportsbook margin, meanwhile, was 7.3%.

The company’s EBITDA for the period sat at EUR 68.9 million ($72.8 million), which translates to an increase of 42%. EBITDA margin was 29%. EBIT, on the other hand, was EUR 56 million ($59 million), representing a year-on-year increase of 46%. The EBIT margin was 23.6%.

Betsson Group also reported a net income of EUR 46.2 million ($48.8 million), corresponding to EUR 0.35 ($0.37) per share. Operating cash flow for the period, meanwhile, was EUR 44.9 million ($47.44 million).

The company’s net debt at the end of Q3 was EUR -65.5 million ($69.2 million).

Last but not least, the company reported a 17% increase in the number of active customers to 1,237,238.

Lindwall Summarized Betsson’s Q3 Achievements

Pontus Lindwall, Betsson’s president and chief executive officer, commented on the results, highlighting the high customer activity, strong financial development and investments in product and new markets.

Linwall praised the increased metrics, noting that the Q3 revenue and EBIT are the highest Betsson has ever recorded. He noted that the figures include the acquisition of betFIRST.

Lindwall added that the Nordics was the only major region that failed to reflect Betsson’s high growth. In the meantime, the company continued to expand its presence, acquiring betFIRST in Belgium, launching in Serbia and obtaining a sports betting license in France.

The executive highlighted the importance of B2B to his company’s growth strategy and said that his team will continue to strengthen the B2B offering. He noted that in September Betsson supplied Bethard with its sportsbook solution.

Q3 was also an important period for the company as it saw it launch its first-ever global advertising campaign.

The theme “A bet makes the difference” focuses on the excitement and entertainment that comes from placing a bet, on sports or casino, rather than the chances of winning. The campaign is part of the marketing strategy to establish Betsson as the Group’s global main brand, aiming to achieve economies of scale and competitive advantages for the business in the long run.

Pontus Lindwall, president & CEO, Betsson Group

Lindwall concluded that he is very optimistic about the rest of 2024. He hinted at possible future investments, saying that Betsson’s geographical diversification, solid balance sheet and strong cash flows provide favorable conditions for growing the company.

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TAB NZ, the single racing sports betting agency in New Zealand, confirmed changes to its senior-level management earlier this week. The company revealed that Hon Kieran McAnulty, the Minister for Racing, appointed Anna Stove as the new interim chair of TAB NZ, replacing its current chair, Mark Stewart, who will be stepping down at the end of this month. The appointment of Stove as interim chair will be in effect as of September 1, 2023, TAB NZ reveals.

It was at the start of the 2021/2022 financial year that TAB NZ selected Stewart as its chair. The company acknowledged that he helped navigate it through a “transformative change” and highlighted the importance of the recent strategic collaboration with Entain.

Judging by the recently released statement, TAB NZ revealed that Bill Birnie, Wendie Harvey and Raewyn Lovett will retain their roles with the Board, joined by Stove. However, the company said that Jason Fleming has taken the decision to resign from his position with the Board to pursue another role with TAB NZ’s management team as general manager commercial.

Earlier this summer, in June, TAB NZ launched its agreement with Entain. The strategic combination is already having a positive impact, fueled by Entain’s leading services and products.

Stove, Delighted to Spearhead TAB’s Growth

Despite the nature of the interim role, the new position with TAB NZ represents a promotion for Stove who has been holding the role of deputy chair since August 1, 2021. She thanked the outgoing chair and acknowledged his dedication and efforts. “I am very excited to be picking up the reins as we pay particular focus to working with the Government on modernizing New Zealand’s gambling settings,” said Stove.

“A legislative net which restores TAB NZ’s monopoly in the modern, online world will not only result in better harm minimization outcomes for Kiwi punters, but would also see an immediate funding uplift to racing and sport.“

Anna Stove, upcoming interim chair of TAB NZ

Commenting on the topic, Stewart added that he is proud of the legacy he helped create at TAB NZ while he was at the helm of the company. Speaking about the past, he acknowledged the success the company has seen in the last few years and spoke about the importance of the partnership with Entain.

Additionally, Stewart said that it is delightful to see Stove at the helm of TAB NZ as interim chair. “We have benefited from her governance experience in racing and commercial acumen over the last couple of years,” he added. Last but not least, he thanked TAB NZ’s management team for their ongoing support, hard work and dedication.

“We are indebted to Mark for generously giving his time to TAB NZ.“

Nick Roberts, CEO at TAB NZ

Nick Roberts, TAB NZ’s CEO, praised the efforts and dedication of Stewart, as well as the success his leadership brought. Finally, the CEO explained that under Stewart’s leadership, TAB NZ was able to reach tens of thousands of residents across the country and positively impact their lives.

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With a wealth of experience in independent charity consultancy and a proven track record in driving strategic development and change processes, D’Arcy Myers will play a pivotal role in guiding GamCare through its mission to create a safer and more responsible gambling environment. He will build upon the achievements of his predecessor and utilize his talents to implement impactful change initiatives.

The New CEO Boasts Impressive Expertise

Myers stepped in after previous CEO Anna Hemmings took her leave after a successful five-year tenure. Hemmings was instrumental in expanding GamCare’s scope and fostering meaningful communication with lawmakers and regulators to create a safer, more responsible industry. She left the charity as UK’s premiere gambling harm treatment and prevention authority, setting a high bar for her successors.

Despite the challenging prospects of managing such an expansive organization, D’Arcy Myers’ significant experience and leadership skills should help him excel in his new position. The new interim CEO was excited to get started and lend his efforts to GamCare’s invaluable efforts. His proactive approach should be what GamCare needs to remain relevant in the rapidly changing gambling world.

I look forward to meeting as many staff, service users, and partners as possible in the coming weeks.

D’Arcy Myers, GamCare interim CEO

Myers’ experience includes leadership positions at high-profile charities like Allergy UK, The Percy Hedley Foundation, the TV and Film charity, and The Solicitors Charity. He has demonstrated his ability to unlock the potential of community-focused organizations, improving their efficiency and social impact. As a trustee of several voluntary organizations, his leadership can unlock new synergies for GamCare.

GamCare Retains Its Pivotal Role

One of Myers’ primary challenges will be guiding the organization through the intense consultation process regarding the upcoming UK white paper. The government’s Department for Digital, Culture, Media, and Sport continuously seeks feedback from gambling industry stakeholders, helping implement effective reforms. Myers’ broad experience should provide valuable new insights, aiding the consultation process.

While collaboration with the authorities remains vital, the new interim CEO must also focus on GamCare’s public-facing efforts. The charity continuously promotes gambling harm awareness and self-exclusion schemes, collaborating with high-profile organizations to bolster its reach and help as many individuals as possible. Maintaining such strategic initiatives should remain a leading priority.

As GamCare embarks on this new chapter under D’Arcy Myers’ guidance, the organization is poised to make significant strides in its mission to minimize gambling-related harm and support those in need. His leadership will drive innovation, collaboration, and a renewed focus on protecting vulnerable communities while promoting a safer gambling environment.

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The UK’s DCMS announced that the Secretary of State Lucy Frazer has appointed Paul Sweeney as the interim chairman of The National Lottery Community Fund. The announcement described Sweeney as a seasoned individual with years of experience in the voluntary, community and public sectors in Northern Ireland.

The announcement added that Sweeney will serve in the role for 12 months starting August 1, 2023, or until a permanent substitute has been appointed. In his position, he will be remunerated at £40,000 a year (around $51,000).

The interim appointment, the announcement added, was made as an exceptional appointment without completion. The DCMS also added that Sweeney has not been involved in any political activity in the last five years.

Sweeney Has a Wealth of Experience in the Non-Profit Sector

Between 1987 and 1994, Sweeney served as the director of the Northern Ireland Voluntary Trust, a local community-oriented charity supporting self-help initiatives.

In 1994, the appointee joined the Northern Ireland Civil Service (NICS). At first, he served as an adviser on community development and reconciliation. Eventually, Sweeney was promoted to a number of senior positions, including deputy secretary in the Office of the First and Deputy First Minister, permanent secretary in the Department for Culture, Arts and Leisure and permanent secretary in the Department of Education

In 2017, Sweeney departed from the NICS to pursue other opportunities. Since then, he has had short stints with several charity organizations, primarily focused on regeneration, culture and young people.

On June 1, 2021, Sweeney was named chair of The National Lottery Community Fund’s Northern Ireland Funding Committee.

Allwyn to Take Over the National Lottery in 2024

Sweeney’s appointment comes ahead of Allwyn’s takeover of the United Kingdom’s National Lottery. Last year, the UKGC appointed Allwyn as the next National Lottery operator – a fact that the incumbent operator, Camelot, was initially unamused with.

As a result, Camelot tried to block the licensing process, claiming that the UKGC had favored its competitor. The conflict lasted several months but in the end, Camelot conceded, allowing the commission to crown Allwyn as the next National Lottery operator. Allwyn is set to take over the National Lottery in February 2024.

Shortly after the conflict ended, Allwyn expressed its intention to acquire Camelot, which it did a few months later.

In May, the UK National Lottery recorded stable growth, attesting to its popularity. In the meantime, Allwyn picked Leo Burnett and VCCP as joint creative advertising agencies.

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Catena Media, a company delivering traffic to iGaming brands and financial services, has announced a new appointment. The affiliate will be joined by the skilled Erik Edeen who will serve as its interim chief financial officer.

Erik Edeen, who is set to step in as interim CFO, holds a Master of Business and Economics with a major in Financial Accounting from Uppsala University. Furthermore, he is a seasoned finance veteran who has worked in various finance-related roles at many companies. His impressive track record has seen him work with corporations such as ICA Gruppen AB and Investor AB, among others.

With over 16 years of experience in leading financial management roles, Edeen boasts a variety of other experiences as well. In recent times, he served as a strategic advisor to a high-profile media corporation, Catena Media noted.

CFO Messner to Leave the Company

Edeen will step into office on May 22, 2023, and will be responsible for the company’s finance. In this position, the new hire will succeed Peter Messner who is departing from the company.

The outgoing CFO served in this position for over three years, having joined Catena Media in April 2020. While his exit was announced in February, Messner will remain on board until June, ensuring a smooth transition of responsibilities.

Michael Daly, Catena Media’s chief executive officer, commented on that:

Given our closer focus on the North American market, we have agreed that this is the right time to make a transition in our financial leadership.

Michael Daly, CEO, Catena Media

Daly thanked Messner for his contribution to the company’s tremendous recent successes and wished him all the best.

Edeen isn’t a stranger to Catena Media and has previously worked with the company. Between 2019 and 2020, the finance expert had a short stint as the affiliate’s interim CFO, filling the position prior to Messner’s appointment.

Daly welcomed Edeen to the company, saying that he is excited to have him back. The CEO praised the appointee’s experience, saying that it makes him perfectly suited to be a part of Catena’s leadership.

I’m excited to welcome Erik as our interim CFO. His long professional career and past experience of Catena Media will make him a valuable member of the executive management team.

Michael Daly, CEO, Catena Media

In February, the Danish company Better Collective invested in Catena Media, securing a 5% stake in the affiliate company. Better Collective, which is one of Catena Media’s major competitors, released only a short statement on the matter, saying that it is content with the investment and doesn’t plan to further discuss it.

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