As the Vegas Branch Faces Difficulties, Svenska Spel Accelerates Its Internet Expansion

Svenska Spel had a busy quarter of trade as the Swedish group’s net gaming revenue (NGR) increased by 2% thanks to the expansion of its online segment and the determination of its Lotto and Oddset brands. NGR reached SEK 1.88 billion (£150.4 million) during the quarter, up SEK 30 million from the same period the previous year, according to Svenska Spel’s preliminary outcomes for January–March 2026. In Q1 2026, Svenska Spel’s total operating profit was SEK 659m, up SEK 25m, or almost 4%.

Casinos and sports influence Q1 increase

The operator’s largest growth areas were sports and casinos, with the division’s NGR rising 3%. Although customers gambling through the Oddset brand accounted for most of the growth, Svenska Spel highlighted that the Winter Olympics also contributed to a welcome increase in betting traffic because of “customers being more active and a higher average bet per customer.” “We have high ambitions for 2026 and one of our priorities is sustainable growth with a focus on our strong products,” stated Anna Johnson, President and CEO of Svenska Spel. Therefore, it is encouraging that the year starts out with growth in line with the market, with product companies operating as the main engine.

You could argue that Luck was on Svenska Spel’s side in Q1 because this resulted in a 2% increase in NGR for the Luck Division. The Lotto brand of Svenska Spel also experienced this performance improvement. This was significantly restricted, though, by the jackpot amounts not rising to the same levels as the previous year.

Profits upped from 34% to 35% inside the trading period. It’s important to note that creating organic growth is getting more difficult in developed, regulated economies like Sweden. However, by maintaining relatively stable overall costs while its NGR keeps rising, Svenska Spel has been able to do this, although only by one percentage point.

Many Stockholm PLCs, such as Betsson, Evolution, and Kambi, have seen revenue losses in recent financial statements, making this growth fairly unusual for Swedish companies in the gambling sector. It’s clear that Svenska Spel has transferred from the high-investment stage of online transformation to a new phase of growth optimization as the Swedish operator continues to generate revenue through its online channels, which currently make up 67% of total revenue.

Failure of the land-based business

Without luck, Svenska Spel’s land-based businesses didn’t land right, as they didn’t have the same advantages as online competitors. In Q1, its Vegas segment suffered a significant setback. Svenska Spel has already put in place a variety of cost-cutting measures to fight the trend of players increasingly focusing on playing online, as seen by a 17% drop in NGR from the previous year.

Channelization is still a major issue

Eight years have passed since Sweden started to regulate gambling. However, there is little evidence of the market’s challenges in dealing with the ongoing existence of unlicensed operators, especially in the area of online casinos. Channelization is a “central issue” to the market’s overall development, according to Svenska Spel’s midterm report. At a time “when the regulated market is characterized by high competition,” this is especially important.

With 134,500 players registered through Spelpaus, a “clear increase” over the previous year, the Swedish operator remarked that responsible gambling will remain a top concern for the whole sector. Apart from responsible gambling, Finland’s advancements are also a potential influence on the growth of the Swedish market.

Source: sbcnews.co.uk

As the Vegas Branch Faces Difficulties, Svenska Spel Accelerates Its Internet Expansion

Casinos and sports influence Q1 increase

Failure of the land-based business

Channelization is still a major issue

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