The quarter’s total surpassed the SEK6.71bn in Q2 of 2023, according to figures from regulator Spelinspektionen. It is also 3.3% ahead of the SEK6.67bn generated in Sweden in Q1 of this year.
Commercial online gambling, including Svenska Spel, remains by far the main source of gambling revenue in Sweden. Q2 revenue came in at SEK4.57bn, an increase of 9.2% from last year.
However, revenue from state-owned lottery and physical slots games decreased by 7.5% to SEK1.29bn.
Non-profit games and national lotteries also saw revenue edge down 0.3% to SEK893m.
Casino Cosmopol closures hit land-based revenue in Sweden
Elsewhere, Spelinspektionen reported a sharp reduction in revenue from land-based Casino Cosmopol locations. Revenue dropped 73.8% to just SEK33m.
This fall follows Casino Cosmopol venues in Gothenburg and Malmö closing in February due to limited profitability. The Stockholm Casino Cosmopol is Svenska Spel’s last venue. And in May, Sweden’s government put forward a proposal to discontinue Casino Cosmopol’s business altogether, as it “no longer fulfils its purpose”.
As for other land-based sectors, community games and hall bingo revenue remained level at SEK52m for the quarter. In addition, land-based revenue for restaurant casinos increased 5.7% to SEK56m.
Spelinspektionen also noted a 1.7% quarter-on-quarter increase in the number of people registered to Spelpaus, the national self exclusion scheme. By the end of Q2, some 112,000 were registered on Spelpaus.
Original article: https://igamingbusiness.com/finance/sweden-gambling-revenue-q2/
