Svenska Spel full-year revenues flatline despite strong mobile growth

Svenska Spel reported flat net gaming revenue for 2016 despite seeing a strong increase in sales from mobile devices last year.

For the 12-month period to 31 December 2016, the Swedish state-owned operator’s consolidated net gaming revenue amounted to SEK 8.9bn (£816m), a marginal increase of 0.4% year-on-year.

The small increase in NGR came despite mobile sales increasing by 57% for the year, which Svenska Spel said reflected the “customers’ appreciation” for its gaming experience.

The operator’s consolidated profit amounted to SEK 4.8bn (£440m), a 1.3% increase on the previous year.

“We have a leading market position with well-established products, satisfied customers and a strong digital offering that meets customer experience demand,” Lennart Käll, president and CEO of Svenska Spel, said.

“We are concluding full-year 2016 with an adequate profit in tough competition at the same time that we show that it is possible to combine growth with responsible gaming.”

During the fourth quarter of 2016, the operator launched a new bingo product on mobile phones and tablets.

Käll added the operator is “well prepared” for the future, in light of a potential liberalisation of Sweden’s online gambling market.

An investigation is currently underway in Sweden looking at how the country should approach re-regulation of the market, in which Svenska Spel currently enjoys a monopoly position.

The two-year investigation is due to come to an end imminently, with the board expected to report its findings and present its recommendations to government on 31 March.