Svenska Spel has released its interim financial report for the first quarter of 2025, showing a total revenue of SEK 1.88 billion (USD 200 million) for the period.
Compared to last year, this net gaming revenue has decreased by 4%. The group attributes this to a decline in participation in physical gaming and slot machines, as well as enhanced responsible gaming measures in the Swedish market. Net Gaming Revenue (NGR) from gaming also decreased by 1% year-on-year. Svenska Spel also attributes this slight decline to the later occurrence of the Easter holiday—typically a peak period for lottery sales in Sweden in March.
The net revenue (NGR) from Swedish sports and casino betting remained stable year-on-year, while the group's overall operating profit increased significantly by 96% compared to the first quarter of 2024, reaching SEK 609 million. Additionally, the online business continued to grow, with a year-on-year increase of 7% and an operating profit margin of 32%.
Anna Johnson, President and CEO of Svenska Spel, commented on these results, saying: "With last year's significant changes, including restructuring, we have created investment space for key areas—growth, sustainable gaming, and transformation. The fact that we have this investment space also proves that we are doing the right thing, which is part of our strategy to create long-term sustainable value."
Note: According to the initial proposal, the Cosmopol Casino in Stockholm will close in May 2024, and Svenska Spel has now confirmed that the casino will close by January 1, 2026.
It has been a busy first quarter for Svenska Spel and the Swedish market, with the group releasing its Q4 2024 financial report in February and later that month announcing a new partnership with Bragg Gaming.
Subsequently, the company experienced significant personnel changes in March, including the appointment of Amäni Radwan as the new group CFO and the nomination of Eva-Lotta Sjöstedt as the new chairperson of the board for the operator.
