The sharpest increase in turnover came from land-based casinos, registering a 30.5% increase year-on-year. GGR from non-profit lotteries in Sweden in Q3 was down by 8.26%.
The GGR reflects a decrease of 0.6% year-on-year, while remaining steady at SEK6.7bn, the same as Q2 2023.
Analysing Sweden’s Q3
Breaking down overall performance, online casino and sportsbook, state lotteries and Casino Cosmopol all rebounded compared to the previous quarter. Non-profit lotteries (Rikslotterier) on the other hand, saw a sharp 8.26% decrease compared to Q2 2022. This brought the aggregated total down to the same as Q2 2022.
Online casino and sportsbook drew the highest numbers with a total of SEK4.25bn. This was down 1.4% year-on-year, despite increasing 1.7% compared to Q2 2023.
GGR from state-owned lotteries and slots came second for turnover, with a net year-on-year decrease of 0.1%, totalling SEK1.4bn, while rebounding by 0.3% compared to Q2 2023.
Casino Cosmopol, the Svenska Spel-owned subsidiary, registered a sharp decrease year-on-year. In total, the state-owned entity saw an 11.4% reduction from SEK149mn to SEK132mn, while increasing by 4.8% compared to Q2 2023.
Land-based on the rise in Q3
Most notably for Sweden’s Q3 results, land-based casinos surged in revenue, climbing 31% year-on-year, from SEK62mn to SEK81mn, with an increase of 53% compared to Q2 2023.
Additional GGR for Sweden’s Q3 results came from community games and bingo halls – remaining steady year-on-year at SEK49mn.
The increase in land-based revenue reflects the wider trend for Europe’s Q3 results, with online restrictions likely contributing to a continued rise in popularity of betting shops, retail locations and brick and mortar casinos.
Spelinspektionen has also highlighted that by the end of Q3, a total of 99,000 people had registered for the voluntary self-exclusion scheme, Spelpaus.se. This marked a 4% increase compared to Q2 2023.
Original article: https://igamingbusiness.com/casino-games/sweden-gaming-q3-revenue/
