Svenska Spel reported year-on-year declines in revenue and net profit for Q3. It attributes these declines to a higher gambling tax rate and increased responsible gambling measures.
For the three months ending 30 September, Svenska Spel's revenue totaled SEK1.78bn ($168.9m), which is 9.2% lower than the same quarter last year, according to the company's quarterly report.
Reflecting on Q3, Svenska Spel CEO and president Anna Johnson highlighted the impact of the gambling tax increase in Sweden, which rose from 18% to 22% of gross gaming revenue in July. She noted that this has affected Svenska Spel over the past two quarters.
Johnson also mentioned the effects of enhanced responsible gambling measures, including income checks on high-staking players and increased welfare calls.
