Swedish market reports annual revenue climb of 5% for Q1

Sweden’s licensed gambling market accumulated SEK6.2bn (£526m) in revenue during the first quarter of 2021, according to the Swedish Gambling Authority (SGA). The figures mark a 5.1% annual rise and are largely based on information gathered by the Swedish Tax Authority. Commercial online gambling was the main driver of revenue, generating over half of the total proceeds, accounting for SEK3.9bn. Online operators have seen an uptick in activity due to the Covid-19 restrictions, despite the Swedish government favouring a more libertarian policy rather than imposing strict lockdowns early in the pandemic. State-owned lottery and slot games from Svenska Spel increased revenue for Q1 this year, climbing to just under SEK1.4bn, from a little over SEK1.1bn a year ago. Casino Cosmopol, Sweden’s only land-based casino, posted no sales at all but is celebrating the renewal of its licence for the next five years. Other land-based commercial gaming, such as restaurant casinos, saw a significant drop in income from SEK52m down to SEK6m. Revenue from games for public benefit purposes such as the national lottery fell slightly by SEK0.3m to SEK858m. A total of 101 companies had active gambling licences in Sweden in May this year, while 71 were licensed for betting and commercial online gaming. Also at the end of the first quarter, 63,000 consumers had self-excluded from all Swedish-licensed gambling websites via the self-exclusion platform Spelpaus.