Svenska Spel Q1 revenues flat as self-excluded players rise 5%
Operator launched its new Oddset sportsbook app and added 10,000 new sports markets
Sweden’s state-monopoly operator Svenska Spel this morning released Q1 revenues of SEK 2.2bn (£183m), up 1.4% on the previous year.
Operating margins were flat at 21.6% with profits also growing by 1% to SEK 1.4bn (£95.5m)
Online sign-ups across all Svenska Spel brands were up 25%, while mobile sign-ups increased 52% during the period.
Svensa Spel CEO, Lennart Kall, said the quarter was characterised by new product launches including additional markets on its sportsbook Oddset and an entirely new mobile app.
Kall said: “Throughout March, approximately 21,000 matches and sporting events have been offered compared with 10,000 [during] the same period last year.”
Elsewhere, the number of self-excluded players rose 5% to 21,100 in March.
“We still show that it is possible to combine growth while taking clear responsibility for gaming. Customers respond positively to the news we deliver and in gaming responsibility,” Kall added.
Revenues for all the state-monopoly operators in Sweden were flat for FY 2017 at SEK 12bn (£1bn).