Svenska Spel eyes online casino launch ahead of battle for regulated market share
CEO Lennart Kall says the company is ready for regulation and will launch new verticals in January 2019
Svenska Spel CEO Lennart Käll has said the state-owned operator is anticipating huge growth once the Swedish market is regulated, with the help of some new verticals.
Speaking to EGR Intel, Käll said for a number of years the operator “had only been a monopoly on paper” and had faced heavy competition from foreign operators. Svenska Spel has a current market share of 40% in Sweden.
Käll said the firm had re-applied for a casino licence and expects to launch the vertical once regulation comes into force in January 2019.
Svenska Spel CEO, Lennart Käll
“It’s the fastest growing and largest product [in Sweden]. That will of course have impact on our revenues and profit,” he added.
The operator is currently in the process of selecting a casino supplier. Fantasy sports and esports products will also be added to Svenska Spel’s offering once regulation is in place, although the firm initially applied for licences in 2014.
“We will need some new expertise in those areas so of course we will hire additional staff when we launch these products,” Käll added.
He welcomed the promise of an open market and said he has a great relationship with competing firms as they all share the same view on enforcing stricter responsible gambling measures in Sweden.