Svenska Spel Financials Dip in Second Quarter

Sweden's state-sanctioned gaming group Svenska Spel has announced their second quarter 2018 financial results, revealing that profits dipped a bit during the period.

Key financial indicators for the first half ending June 30th, 2018 were:

• Revenues of SEK 2 billion, down 4% from last year
• Operating profits down 11% to SEK 975 million
• Digital revenues up 20% to SEK 621 million
• Mobile wagering up 42% from last year

Commenting on the results Svenska Spel President and CEO Lennart Kall said, "We are still strong as the entire Swedish people's gaming company and meet customer demand for gaming experience with an expanded range and product development.

"Customers continue to give us high ratings in our satisfied customer index, and with broad margins we have the highest image value of the gaming companies. We look forward to the new gaming market."

Svenska Spel is going to be facing some stiff competition, as the Swedish market is set to liberalize in January 2019, with several third-party operators scheduled to enter the market and eat away at Svenska's profits.