Regulatory Rules Of Sweden Negatively Affect The Income Of Gambling Operators

The state operator of gambling sweden svenska spel stated the reduction in income in the first half of 2019. The situation has improved in the second quarter of this year due to an increase in the number of customers.

Revenue for the first half of the year decreased by 4% compared to the same period last year and amounted to 4.1 billion swedish crowns ($ 437 million).

Revenues from sport division & casino increased by 5% and amounted to 1 billion swedish crowns. The operator links the improvement of indicators with the advent of new products for online casino and expansion of the line of rates for sports competitions.

The main source of earnings of the company remains lottery tur, even despite the reduction in profits here by 3% to 2.2 young swedish crowns. Instant lottery operations do not exceed the high-quality growth of the indicators, but the situation has improved the game in the drawing format.

Ground gambling institutions and gaming chairs stated a reduction in revenue by 14% to 849 million swedish crowns.

President and executive director of patrick hofbauer stated that the operations were balanced after restarting the market, and the increase in the number of customers and income is gradually restored.

Despite the fact that the company’s expenses decreased by 9% and amounted to 595 million swedish crowns, svenska spel was a total of 783 million swedish crowns as tax deductions. The company’s operating profit decreased by 50% and amounted to 1.1 billion swedish crowns.

Net profit of svenska spel amounted to 825 million swedish crowns, compared with 2.1 billion local currency earned in 2018.

In the second quarter, revenues decreased by 2% and amouunted to 2 billion swedish crowns, and tax deductions to the state amounted to 381 million swedish crowns. The company’s net profit was declared in the amount of 417 million swedish crowns, which is half less than the results of the second quarter of 2018.

Recall that svenska spel stopped advertivising interactive casino products.