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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Svenska Spel Sport & Casino, Sweden’s state-owned gaming operator, has renamed its horse games to Svenska Spel Hästar following a dispute with ATG over the name of its trotting venture. The Patent and Market Appeal Court announced the judgment on 25 January, prompting the company to implement this change. This incident marks another setback for the operator, but it remains well-positioned for further growth.

The Name Change Should Have No Ill Consequences

The transition to Svenska Spel Hästar aims to maintain service continuity while complying with the court’s judgment regarding the name dispute. Svenska Spel remains committed to delivering a top-notch trotting experience for its users, incorporating emerging technologies to ensure lasting customer engagement while remaining true to its safe gambling commitment. 

Svenska Spel Sport & Casino CEO and business area manager Fredrik Wastenson did not hide his disappointment with the court’s ruling, expressing confusion at how the judges considered that descriptive words for a business could have such high protection. He nevertheless acknowledged the decision and vowed to make the transition as smooth as possible.

“We are proud of our fantastic offer on horses, which will be available just like before, but now under Svenska Spel Hästar.”

Fredrik Wastenson, Svenska Spel Sport & Casino CEO and business area manager

Svenska Spel Hästar provides various betting options, including bets on high-stakes games like High Five, Duo, and other formats like Winner and Place in French competitions. The platform also allows users to follow all races live. An upcoming highlight of the French trotting season, the Prix d’Amérique, is scheduled for 28 January at Vincennes.

Sweden’s Land-Based Sector Continues to Struggle

While the rebranding of Svenska Spel’s horse games is a relatively minor issue for the operator, it may compound with several other recent setbacks. The company recently announced it could close two land-based venues, Casino Cosmopol in Gothenburg and Malmö.  Svenska Spel confirmed it intends to close the two venues while seeking to “limit losses.”

These challenges originate from the decreasing share of the land-based sector within the gaming vertical in the country. The state-owned operator explained that a substantial shift toward the online gambling sector occurred in 2019 with the reregulation of the industry, further exacerbated by the pandemic. However, Svenska Spel has implemented measures to increase revenues, hopefully achieving a more balanced market.

Svenska Spel’s state-owned status means the operator is significantly more resilient to market downturns and can more easily implement measures to tackle rising industry challenges. It also plays a vital role in spearheading gambling harm prevention research and ensuring that the country’s gambling sector remains safe and sustainable.

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The Swedish state-owned gambling operator, Svenska Spel, announced Wednesday the possibility to close two of its land-based venues. The potential closure is related to Casino Cosmopol in Gothenburg and Malmö.

Previously, Svenska Spel implemented an action plan that sought to revitalize Casino Cosmopol. This plan included a significant restructuring of the organization, along with a reduction of the number of employees, a restaurant with a simplified concept, as well as reducing the working hours and days.

Despite the operator’s efforts, the share of online gambling continues to grow, resulting in further negative development for Casino Cosmopol. As a result, Svenska Spel confirmed it intends to close the two venues while seeking to “limit losses.”

Still, the operator explained that the closure of Casino Cosmopol in Gothenburg and Malmö is subject to negotiations with the union. Provided that Svenska Spel discontinues its operations in Gothenburg, some 120 employees would be affected. On the other hand, shutting the doors of Casino Cosmopol in Malmö may impact 80 more workers. In case the aforementioned casinos close their doors, the operator would be left with Casino Cosmopol in Stockholm, its largest venue and the last remaining brick-and-mortar casino in Sweden.

According to Svenska Spel, its intention to close two casinos comes amid a decreasing share of the land-based sector within the gaming vertical in the country. The state-owned operator explained that a major shift toward the online gambling sector was observed in 2019 with the reregulation of the industry. Then, it said, the pandemic further impacted its land-based operations considering the closure of Casino Cosmopol.

The Difficult Decision Affects Many of the Operator’s Employees

Patrik Hofbauer, Svenska Spel’s president and CEO, spoke about the ongoing trend that sees more people shifting toward the online gambling sector. He added that for a decade, online casinos grew exponentially. “Despite significant measures, we see challenges to reach profitability for Casino Cosmopol,” said Hofbauer. Finally, he explained that due to the increasing losses, a difficult decision was taken.

“This is an emotionally tough step to take as it affects many of our employees. We have taken a number of measures in an effort to increase revenue and reduce costs.“

Ola Enquist, CEO at Casino Cosmopol

Ola Enquist, Casino Cosmopol’s CEO, also highlighted the efforts of the operator to reduce costs and at the same time increase revenue. Yet, with the effect of the measures deemed insufficient, she said that Svenska Spel had to take the tough decision that affects a number of its employees. “Therefore, we now intend to wind down two of our casinos,” said Enquist in conclusion.

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Svenska Spel, a Swedish state-owned gambling operator, has named Anna Johnson as the successor of its current chief executive officer, Patrik Hofbauer. The latter announced his exit earlier this year, opting to explore other opportunities instead.

Johnson will serve as Svenska Spel’s new president and CEO and is set to step into the office by June 2024, the former Swedish monopoly announced.

According to Svenska Spel, its new CEO boasts a master’s degree in economics from Mitthögskolan in Östersund. She is also an authorized accountant with an impressive track record behind her back.

Aged 50, Johnson currently serves as a partner and CEO of Grant Thornton, a global accounting and consulting firm. She boasts decades of experience in accounting and has held a number of leading corporate positions at Grant Thornton. She was appointed as the agency’s CEO seven years ago and has leveraged her experience to bolster the firm.

Hofbauer, meanwhile, is set to leave Svenska Spel very soon. Starting on February 1, 2024, the incumbent CEO will join the Swedish telecommunications juggernaut Telia Company. Following the departure of Hofbauer, Erik Strand, Svenska Spel’s board chair, will serve as interim CEO until Johnson takes office.

Johnson Is Honored to Have Svenska Spel’s Trust

Strand commented on the new appointment, praising Johnson’s track record of successful leadership positions. He lauded her ability to build strong teams, create more customer value and deliver profitable growth. According to the chairman, Johnson’s drive and curiosity made her a perfect fit for Svenska Spel.

The board and I are very much looking forward to working together with Anna and her management team.

Erik Strand, chairman, Svenska Spel

Strand added that Sweden’s former gambling monopoly has implemented many changes in recent years. He believes that the company is now poised to offer engaging and safe gaming experiences to its customers in the country.

Johnson also commented on his new position, saying that it represents a “fantastic opportunity.” The new CEO added that she is honored to have the trust of one of Sweden’s strongest gambling brands. She also praised the company’s commitment to sustainable entertainment, saying that this philosophy provides benefits both to the Swedish people and Swedish sports.

I am really looking forward to leading Svenska Spel’s journey of change together with the employees and continuing to create results.

Anna Johnson, CEO appointee, Svenska Spel

Speaking of Sweden, BOS’ general secretary, Gustaf Hoffstedt, just weighed on the country’s newly-proposed gambling tax, saying that it would be a “gift to the black market.”

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Swedish state-owned gambling company Svenska Spel announced that it will be parting ways with Patrik Hofbauer, who is set to explore new opportunities. Hofbauer, currently serving as the operator’s president and chief executive, believes that the gambling company is in a good position to continue without him.

The outgoing CEO joined Svenska Spel back in December 2018. He will officially depart from his position on January 31, 2024, to sit at the helm of Telia Company, a Swedish telecommunications juggernaut.

Svenska Spel noted that it’s already on the lookout for a suitable successor.

As CEO of Telia, Hofbauer will depart from the gambling sector he has served for five years. Prior to joining the state-owned operator, the outgoing CEO served as the CEO of the Norwegian majority state-owned multinational telecommunications company Telenor.

Before that, Hofbauer had stints as CEO of Telenor Broadcast and CEO of Clear Channel. An experienced individual, Hofbauer is also a member of several companies’ boards of directors. This lineup includes Clas Ohlson, NHST Media Group, Svenskt Näringsliv and Presto Holding.

The Decision to Leave Svenska Spel Was Difficult

Hofbauer commented on his new position, sharing that his time with Svenska Spel has been a “fantastic journey.” He said that the decision to depart did not come easily.

While melancholic about his departure, Hofbouer believes that Svenska Spel is in good hands and poised for further success. He praised the company’s robust corporate culture and values, saying that the operator will continue to deliver results.

Erik Strand, Svenska Spel’s chairman, also commented on the matter, praising Hofbouer for his hard work as CEO and the multiple changes he delivered. Thanks to the outgoing executive, the company now sports a modernized approach and a commitment to sustainable practices.

Strand also thanked Hofbouer for navigating the company through the reregulation of the Swedish gaming market in 2019 and setting a clear agenda for the company. The chair concluded that Hofbouer truly made a difference.

Svenska Spel is set to report its Q3 earnings later this month.

Hofbauer Is Excited about His New Position

Hofbauer also released a statement on his new position at Telia Company. He said that he is honored to have been appointed as the telecommunications giant’s next president and CEO and is looking forward to further developing the company.

While I have most recently been working outside telecoms, I have followed recent industry developments with great interest, and I am ready to continue executing on Telia’s strategy and move forward with its digital transformation program.

Patrik Hofbauer

Hofbauer will officially step into the office on February 1, 2024.

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The leading provider of innovative content for the online gambling sector, RAW Group, announced a new tier-one partnership by teaming up with the leading operator for the Swedish regulated gambling market, Svenska Spel Sport and Casino. Under the terms of the new collaboration, the leading aggregator and studio confirmed that its content is now live with the Swedish operator, boosting its offering in the country.

The new content agreement sees RAW Group deliver its skill game and slot content to customers of Svenska Spel in Sweden. As a result, players of the operator will be able to tap into a wide range of games, including cutting-edge titles from RAW’s in-house studio, RAW iGaming. The delivery of the engaging games will be facilitated via the innovative RAW Arena aggregation platform.

Thanks to RAW Arena, Svenska Spel’s customers will be able to experience games that deliver engaging and exciting mechanics and features. The latest collaboration reaffirms RAW’s goal to take the online gambling sector by storm via the delivery of quality games.

Niklas Örtbrant, Svenska Spel Sport and Casino’s head of online casino, revealed that as a leading iGaming operator, the company follows trends that change along with the player base. He added that Svenska Spel strives to deliver thrilling games that match the needs of its customers. “In RAW, we have a content partner that is completely reinventing casino content with mechanics that stand out,” said Örtbrant. Finally, he revealed that the content from RAW differentiates from the competition, making it a perfect fit for the company’s growing customer base.

The deal with RAW comes after earlier this month, Svenska Spel selected Kambi as a sportsbook technology provider. Per that deal, Kambi will power the operator’s online and retail sportsbook.

The Content Supplier Is Delighted to Team Up with Svenska Spel

Tom Wood, RAW Group’s CEO, highlighted the importance of the new partnership, explaining that Svenska Spel is a renowned name within the gambling sector not only in Sweden but across Europe. He added that it is thrilling for RAW to be selected to power the offering of the operator and deliver exciting experiences to its portfolio of players. “Svenska Spel is just the sort of partner we like to work with – established, trusted and just as committed to being a disrupter as we are,” revealed Wood in conclusion.

In light of the recent partnership, Svenska Spel’s customers in Sweden will gain access to RAW’s game-changing mechanics. As a result, players will be able to experience the patent-pending SuperSlice, as well as SuperTracks. Moreover, clients of the operator will benefit from SuperStretch and SuperSymbols. Overall, the mechanics and unique content is expected to elevate the excitement and thrill, bringing unrivaled experiences for the players.

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The leading supplier of sports betting technology, Kambi Group, announced it inked a new important partnership in Sweden. The company said Tuesday it signed an exclusive long-term agreement with the leading Swedish operator, Svenska Spel Sport and Casino. Under the terms of the new collaboration, Kambi agreed to power the operator’s retail and online sportsbook.

The latest long-term partnership follows a competitive tender process that designated Kambi as the perfect partner for Svenska Spel. The company’s commitment to ensuring compliance, extensive experience with operators across the globe and complete sportsbook product that leverages cutting-edge technology were some of the advantages that helped the Swedish operator select Kambi.

Per the terms of the new agreement, Kambi’s subsidiary, Shape Games, will power the front end of Svenska Spel’s new sportsbook. This will result in strategic benefits and customization options for the operator that will be able to stand out from its competitors and deliver thrilling experiences. A statement released by Kambi reveals that the latest agreement is expected to have a “meaningful financial impact” starting from the second half of 2024.

Dan Korhonen, Svenska Spel Sports and Casino’s head of product sports betting, explained that Kambi was selected after an extensive evaluation process. “We have evaluated a number of different alternatives and we feel we have found the perfect partner in Kambi,” he added.

Korhonen predicted that the collaboration will strengthen significantly Svenska Spel’s offering. Finally, he said that the company is looking forward to the launch of its new sportsbook next year, delivering unrivaled entertainment to customers.

Kambi Is Excited to Power Svenska Spel’s Sportsbook

Kristian Nylén, Kambi’s co-founder and CEO, spoke about the strong position Svenska Spel holds within the regulated gambling market in Sweden. He said that the company is delighted to be selected as a long-term sportsbook provider of the leading operator. “As we continue to build commercial momentum and execute our long-term strategy, this partnership is a significant milestone for the business and will enable Kambi to further strengthen its position in one of our core markets,” revealed Nylén in conclusion.

“Svenska Spel is widely recognized as one of Sweden’s most prestigious brands and given Kambi’s strong Swedish roots, I am proud that we have been selected as the operator’s long-term sportsbook provider.“

Kristian Nylén, CEO and co-founder at Kambi

Back in 1997, Svenska Spel was founded after the merger of the leading Swedish operators, Svenska Penninglotteriet AB and AB Tipstjänst. Growing from strength to strength, the company is currently a major player in the regulated gambling market in the country. Svenska Spel has a strong presence within the retail sector with its 5,000 retail outlets but also continues to grow within the online gambling vertical.

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Swedish state-owned online casino operator, Svenska Spel, reaffirmed its ongoing efforts toward research on gambling addiction with grants from its independent research council. On Tuesday, Svenska Spel’s independent research council confirmed it has selected five research studies that received a total of SEK 4.1 million ($377,000) in the form of grants.

The studies seek to help uncover important knowledge about gambling addiction and its impact on others. Additionally, Svenska Spel’s grants seek to help determine effective responsible gambling methods and better ways for treating problem gambling.

Over a decade ago, in 2010, Svenska Spel’s independent research council was founded. Over the last 13 years, the council played a pivotal part by distributing SEK 45 million ($4.2 million) to 35 scientific studies and research projects within the gambling vertical. The latest grants reaffirm its commitment to developing effective methods for treating gambling addiction and gaining valuable knowledge about the impact of such addiction on the people affected and their families.

Sara Lindholm Larsson, Svenska Spel’s chairman of the independent research council, highlighted the importance of the grants this year. She explained that the vital funding will help gain unique insights and knowledge about gambling addiction.

“This year’s granted research project will contribute both to increased knowledge about gambling addiction and which gambling responsibility measures work.“

Sara Lindholm Larsson, chairman of Svenska Spel’s independent research council

According to Larsson, the studies planned for this year will help in the development of more effective guidelines and policies. She pointed out that the studies will help uncover new treatment methods and ways to prevent problem gambling. Finally, Larrson said: “Svenska Spel’s contribution to research and the dissemination of knowledge about games is crucial for many in society today and tomorrow.”

Grants to Support Five Studies

As noted, funding will be awarded to five different studies planned for this year. The list includes a study on “Family-centered treatment for problematic gaming,” led by Emma Claesson-Knutsdotter from the Department of Clinical Sciences, Lund University. The study secured SEK 800,000 in grants from the independent research council.

Another SEK 800,000 was awarded to Kristina Berglund, from the Department of Psychology, University of Gothenburg for a study on “Exploring craving in different samples of problem gamblers.”

On the other hand, Nathan Lakew from the Department of Clinical Neuroscience, Karolinska Institutet, leading a study on “Payment gateways in responsible gambling: A predictive design perspective” secured SEK 1 million in grants.

Claes Andersson from the Department of Criminology, Malmö University received a SEK 700,000 grant for a study on “Gambling in university students: Pathways to care and mental health outcomes.”

Last but not least, the study “How are gamblers and concerned significant others affected by Spelpaus?” led by Anders Håkansson from the Department of Clinical Sciences, Lund University, secured a grant of SEK 800,000.

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The fast-growing and globally-recognized gambling technology company, Playtech, announced it strengthened its European presence via a new partnership with the popular Swedish online casino and betting operator, Svenska Spel Sport & Casino. Playtech unveiled details regarding the new collaboration Wednesday and confirmed that the tie-up further expanded the company’s position within the regulated gambling market in the country.

Per the new deal, Svenska Spel supercharged its poker offering by launching Playtech’s iPoker network and poker product. The launch was a part of the operator’s ongoing strategy for innovation within the poker vertical, the company said. Thanks to the aforementioned launch, Svenska Spel’s customers can now benefit from Playtech’s product that provides options for more tournaments, as well as bigger prize pots.

The collaboration builds upon a strong foundation between the duo. Initially, Playtech and Svenska Spel joined forces back in 2019. That deal saw the leading gambling technology provider become an exclusive poker partner of the Swedish gambling operator.

The Deal Brings Excitement to the Duo

Fredrik Hard, Svenska Spel’s head of poker and bingo, shared his excitement about the latest partnership and acknowledged that Playtech’s technology brings benefits to poker players. He outlined that the technology delivers new and engaging experiences for the passionate poker fan base in the country. Finally, Hard noted: “This deal is a great proof of the quality of Playtech’s offering and we hope to see this relationship go from strength to strength in the future.”

“Launching Playtech’s poker offering is a great step forward for Svenska Spel.“

Fredrik Hard, head of poker and bingo at Svenska Spel Sport & Casino

The collaboration with Svenska Spel represents an important milestone for Playtech. This is because only recently, the company secured its business-to-business permit for the country, required under a new regulation that is expected to come into force. At the same time, the collaboration helps expand poker, which marks one of Playtech’s important verticals.

“We are delighted to be expanding our very successful partnership with Svenska Spel and increasing our presence across Sweden.“

Marat Koss, VP of interactive gaming at Playtech

Marat Koss, Playtech’s VP of interactive gaming, explained that the company is excited to expand its successful deal with Svenska Spel. He pointed out that the collaboration will help boost the company’s presence in the country while delivering engaging and entertaining options for poker fans. Finally, Koss said that Playtech is delighted to see the operator leverage its iPoker products.

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