Svenska Spel 2022 Revenue Hits SEK 8 Billion
Svenska Spel, the Swedish state-owned gambling operator, has released its year-end report for 2022. The fourth quarter saw the Group continue to make investments in new gaming experiences, and the Board has proposed a SEK 2 billion dividend to the owner.
Net gaming revenue for 2022 was SEK 8036 million, down 1% from 2021. The Group’s operating profit was SEK 2387 million, down 3%, and the operating margin was 30%.
In Q4, net gaming revenue was SEK 2185 million, down 2%. The operating profit was down 3% to SEK 580 million, and the operating margin was 27%. However, online business was up 1% compared to Q4 2021, and it made up 48% of the Group’s revenue.
Net gaming revenue for Sport & Casino dropped by 8% in Q4 compared to the previous year. However, improved responsible gambling measures had a positive effect on the amount of healthy revenue, which was at an all-time high. The FIFA World Cup failed to attract as much betting action as previous editions, partly because of when it took place and partly because Sweden did not qualify. Furthermore, during the tournament, there was a break in national football leagues, which also reduced betting activity.
The Casino Cosmopol & Vegas business area saw net gaming revenue decreased by 10%. This was also largely due to increased responsible gambling measures. Furthermore, many players have found themselves in a poorer financial situation due to factors such as inflation.
I am happy that the board intends to propose a dividend of SEK 2 billion to the owner. That our surplus goes back to the Swedish people is one of the reasons why we are all of Sweden’s gaming company. During the 25 years that Svenska Spel has existed, together with our customers, we have contributed over SEK 100 billion to the state treasury.
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