Svenska Spel Releases Latest Quarterly Results

Swedish gaming monopoly Svenska Spel has released its latest financial results, noting a slight increase in revenue, while still pulling in a decent amount of net income.

Key financial indicators for the period were:

• Net gaming revenue for the group rose to SEK 4,781 (4,775) million, an increase of 0.1%.

• Net income for the Group amounted to SEK 2,522 (2,419) million, an increase of 4.2%.

• Net gaming revenue of Sports and Lotteries division increased revenues during the half with SEK 99 million (3.1%) compared with the same period last year.

• Operating margin was 22.0 (21.2) percent.

• Operating profit for the Group was SEK 2,481 (2,394) million, an increase of 3.7%.

• Continued decline in net gaming revenues on slots - down 9.5%.

• 3.8 million has been repaid to customers who have lost money due to the use of unauthorized software (bots) by 15 players which violated the company's online poker rules.

• Management has decided to fund a research professorship for addictive gambling.

• Svenska Spel is collaborating with the Swedish Sports Confederation (RF) in the fight against match-fixing and sports manipulation.