Sweden records SEK 6.75bn Q2 revenue as betting turnover remains steady
The Spelinspektionen, Sweden’s Gambling Inspectorate, has revealed national gambling revenue for Q2 2022 , which totalled SEK 6.75bn (€622m).
This represents a 4% YoY improvement on 2021 Q2 figures of SEK 6.5bn (€598.9m), and a £% quarterly increase from Q1 (SEK 6.55bn/(€603.3m).
However, although indicative of long-term growth, this did mark a downward trend on Q4 figures of SEK 7bn (€644.9m), a decline of 3.7% – the performance during this period was the best quarterly performance of the past year.
Online betting and gaming revenue stood steady at SEK 4.22bn (€3.8bn), the exact same figure as the previous quarter, and aYoY increase on 2021 Q1 results of SEK 4.1bn (€3.7bn).
Meanwhile, the reopened Casino Cosmopol, which resumed activity in July 2021 after being closed from March 29, 2020, finished the quarter at SEK 145m (€13.3m), which represents a 40.7% uptick from the SEK 103m (€9.5m) recorded through the year’s first quarter.
Svenska Spel’s lottery and Vegas slots reached revenue of SEK 1.41bn (€129.7m), which represents an increase of 1% year-on-year from SEK 1.4bn (€128.8m) and 10% quarterly from SEK 1.29bn (€9.5m).
Lastly, charitable lotteries’ dropped a little over 8% to SEK 868m (2021: SEK 941m/€86.6m)), and restaurant casinos closed the period at SEK 57m (2021: SEK 8m/€7.3m).
The results follow the news earlier this year that Sweden’s national gambling regulator revealed that the Spelpaus self exclusion system has surpassed 80,000 registrations.
The scheme, which went live on the opening of the Swedish market on 1 January September 2019, allows individuals to exclude themselves from any licensed game that requires registration under the country’s Gaming Act.
Additionally, the Swedish market looks set for another regulatory shakeup in 2023, as the Spelinspektionen provided an update on Tuesday on legislative progress regarding B2B gaming software licensing.
The “Strengthened gambling regulation” Bill is currently under consideration by the Riksdag parliament, which would introduce ‘licensing requirements for gambling software’ into existing legislation.