Revenue in Sweden during 2023 was down from SEK27.45bn in the previous year. This is according to preliminary data published by national regulator Spelinspektionen.
Online gambling remained the primary source of revenue at SEK17.03bn. However, this was 0.7% lower than the previous year and was in contrast to the 6.0% increase in 2022.
There was also a decline in the state lottery and slots segment, with revenue down 3.6% to SEK5.60bn. Revenue from state-owned Casino Cosmopol land-based casinos slipped 11.4% to SEK485m.
However, there was better news for national lotteries, with revenue here increasing by 1.4% to SEK3.60bn. Public games revenue climbed 9.3% to SEK199m, with land-based commercial gambling revenue edging up 2.3% to SEK225m.
Mixed results for Sweden in Q4
Turning to the final quarter of the year, total revenue in Q4 amounted to SEK7.10m. This was 3.2% lower than the same period in 2022.
However, online gambling revenue during the three months was marginally higher (0.23%) at SEK4.40bn. This came following year-on-year declines in the previous three quarters in 2023.
State lottery and slots revenue was down 14.8% to SEK1.44bn and Casino Cosmopol revenue also fell 33.8% to SEK92m.
As for the other sectors in Sweden, national lotteries revenue increased 5.6% to SEK1.07bn. Public games revenue was level at SEK46m and land-based commercial revenue fell 3.5% to SEK56m.
Swedish government eyes more comprehensive credit ban
Figures could be hit more in 2024 after the Swedish government last month set out plans for a stricter ban on gambling with credit.
The Sweden Gambling Act already bans all licensed operators from offering or providing credit. However, the government is hoping to strengthen these measures with a more in-depth ban.
Proposed measures state operators and gambling agents would not be able to process deposits or bets financed by credit. This would be regardless of how and when the credit is provided. The ban, the government says, would include the use of credit cards.
The plans also re-emphasise that licensees in Sweden must have in place duty of care measures to discourage excessive gambling.
Several other major gambling markets already have such a plan in place, including Sweden’s Nordic cousin, Norway.
Original article: https://igamingbusiness.com/finance/sweden-gambling-revenue-dips-in-2023/
