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Svenska Spel Revenues Drop in First Quarter

Swedish gambling monopoly Svenska Spel has released their first quarter 2015 financial results, noting lower overall revenues, but higher online numbers.

Key financial indicators for the quarter ending March 31st, 2015 were:

  • Revenue down 4.7 percent year-on-year at SEK 1.19 billion;

  • Online revenue up 5.5 percent to SEK 421 million;

  • Mobile revenue up 53 percent;

  • Hopes for better performance if and when government allows the company to offer online casino action;

  • Continued cost-cutting - principally in marketing - to improve margins;

  • The company, which is constrained in its marketing activity by government policy, continues to be out-marketed by competitors, who are dominating the sector in terms of advertising.