Svenska Spel prepares for regulated market with eSports
Swedish monopoly also reveals plans to beef up product portfolio with the launch of fantasy sports
Svenska Spel has revealed plans to add eSports and fantasy sports to its product portfolio as it prepares for the re-regulation of the Swedish gaming market.
The state-owned operator has moved to bolster its product offering ahead of regulatory changes in Sweden, which are set to come into force next year.
“To further enhance the gaming experience, we focus on innovation and have sought permission for a number of new game types such as eSports and fantasy sports,” Lennart Käll (pictured), CEO of Svenska Spel, said.
Speaking to EGR, Gustaf Hoffstedt, secretary general of BOS (The Association of Online Gambling Operators), expressed surprise at the monopoly’s decsion to introduce eSports, believing the vertical has “no real market” in Sweden.
“One can wonder how it can be the business of the state to introduce a new form of gambling to Swedish consumers that so far hardly exists,” said Hoffstedt.
“In this context, the often-highlighted channelling argument becomes difficult to invoke, as it involves creating a new market rather than channelling an existing one.”
An inquiry, led by Sweden’s Ministry of Finance, is currently looking into different regulatory frameworks, all of which are expected to expose the state-owned operator to regulated competition for the first time.
The inquiry panel, which also involves HÃ¥kan Hallstedt, director general of Swedish gambling regulator Lotteriinspektionen, is due to report its findings by 31 March 2017.
The announcement comes after Svenska Spel revealed it strengthened its digital performance during Q3 with sales via mobile devices increasing 55% compared to the same period last year.
The company said it reached a record of 161,000 unique customers during a single week played via mobile phones at the end of the period ended 30 September.
The strong increase in sales was driven by a new mobile app launched by the operator prior to the Euros.
Overall net gaming revenues for the period dropped by 1.5% year-on-year to SEK 2,153m (£196.85m).