Sweden's licensed market shrinks again
Regulated market contracts 5.5% year-on-year in Q1 after mixed fortunes for Svenska Spel and AGT
The regulated Swedish gambling market has recorded another set of disappointing results as gross turnover declined 5.5% year-on-year in Q1 2014.
According to the latest figures from the Swedish Gambling Authority (Lotteriinspektionen), gross turnover in the market totalled SEK9.8bn (£89m), down from SEK9.2bn (£84m) in the same period last year. Gross sales after winnings also declined to SEK4bn.
“It is slow for most gambling operators in the regulated Swedish market right now with only very few exceptions,” Joakim Rönngren, communications director at the Gaming Board, said.
Swedish monopoly operator Svenska Spel saw turnover decline 4.8% to SEK 5.5bn (£50m) despite a strong performance from online sports betting which grew 18% year-on-year.
All other verticals recorded a fall including poker and casino which declined 12% and 4.7% respectively.
However, horse racing betting operator ATG was able to buck the overall trend with a 1.4% year-on-year turnover increase and a 7.9% rise from its online business.
The results follow reports that the Swedish authorities are set to decide this Autumn whether to follow a Danish-style licensing model for its egaming industry or maintain its current monopoly system which limits Svenska Spel and ATG to offering regulated online gambling.
Last year the Swedish market contracted for a third consecutive year despite stronger performances from poker and sports betting.