ATG reports flat Q1 despite “higher than expected” online revenues
Operator says racing betting took a hit during the period after mandatory registration was enforced
ATG has reported flat Q1 revenues of SEK 1bn (£81.3m) despite a strong performance from its online casino and sports betting arms launched in January.
Revenues for both arms totalled SEK 115m (£9.3m) (excluding racing betting), which CEO Hans Skarploth said had exceeded expectations.
Horseracing made up 89% of overall revenues for the period while casino accounted for 6% and sportsbetting 5%.
However racing revenues were down 3% on mandatory registration requirements enforced last year and new competition in the market.
Weighing in on the advertising debate, Skarploth said the firm had chosen not to advertise its gaming business on radio or television in Sweden in line with its view that casino advertising should be limited.
During the period Henrik Friis was appointed CEO of ATG Danish gaming subsidiary Ecosys which was acquired in March.
Recent figures by the Swedish tax authority earlier this month revealed ATG had performed the best of all licensed operators for the first quarter since new regulation was enforced.