Spelinspektionen, the Swedish regulator, has published a new financial report revealing steady revenue growth across the majority of gambling verticals in the 2nd quarter of 2024.
The statistics demonstrate that the overall market figure for the period exceeded SEK6.71 billion. This figure is 3.3% higher than in Q1.
Fundamental Notions from the Report
The online RMG segment remains the Swedish gambling industry’s primary income source. The digital market’s revenue for the 2nd quarter was SEK4.57 billion, up 9.2% from last year.
Despite steady growth in the iGaming vertical, the figures for the state lottery and land-based slots declined. Profits fell by 7.5% to SEK1.29 billion during the reporting period.
Similar decreases in sales were recorded in the non-commercial entertainment niche and national sweepstakes. The sector’s turnover slightly went down by 0.3% to SEK893 million.
Situation in the Land-Based Segment
In Q2, the Cosmopol chain reported a sharp drop in revenue from ground gaming venues. The indicator fell by 73.8% and amounted to only SEK33 million.
Experts cited the closure of branded casinos in Gothenburg and Malmö due to the establishments' limited profitability as the main reason for turnover reduction. At the moment, Cosmopol runs only one amusement facility in Stockholm.
In May, the Swedish government proposed entirely ceasing the chain’s activities since it was no longer a lucrative project.
The situation in other land-based sectors is as follows:
- Community gaming properties and bingo halls remained stable in revenue. The total earnings of the niche in Q2 amounted to SEK52 million.
- Despite a sharp drop in Cosmopol’s profits, the country recorded an increase in turnover from restaurant casinos, which rose 5.7% to SEK56 million.
The local regulator also reported a 1.7% QoQ uplift in the number of Spelpaus users. By the end of the 2nd quarter, the national self-exclusion program had accepted about 112,000 requests. The jurisdiction continues implementing and supporting responsible gambling initiatives to protect players and entertainment businesses.
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