Sweden Operators Generated SEK 6.7bn GGR in Q3
LISTEN TO THIS ARTICLE:Swedish-licensed operators generated SEK 6.7 billion ($611.1m) in gross gambling revenue (GGR), marking a 1% YoY decline as revealed in the latest Swedish Gambling Authority Q3 report.
Online casinos and sportsbooks contributed the highest to the total revenue with SEK 4.25 billion; however, it was a 1.4% decrease year-on-year but increased by 1.7% to the figure recorded in the second quarter of this year.
Turnover from stated-owned lotteries and slots ranked second with a total of SEK 1.4 billion, a slight 0.1% YoY decline but a 0.3% rebound compared to Q2 2023.
Related: Swedish self-exclusion service with record signups
State-operated casino games, provided by Svenska Spel's subsidiary, Casino Cosmopol, contributed SEK 132m, marking an 11.4% drop from SEK 149m recorded in Q3 2022. However, it increased 4.8% compared to the second quarter of this year.
Land-Based Gaming Records Highest GGR Increase
Land-based casinos witnessed the highest increase in turnover at 30.6% YoY. The sector accounted for SEK81m, compared to the SEK62m obtained in Q3 last year. It is also 53% higher compared to Q2 2023.
Community games and bingo halls contributed an additional SEK49m to the overall revenue. The figure was steady with the amount generated in Q3 the previous year.
Sweden's land-based revenue uptick mirrors the broader trend observed in Europe's Q3 results. This could be attributed to ongoing restrictions against online gambling in these European jurisdictions, which has increased the popularity of betting shops, retail locations, and physical casinos.
Spelinspektionen noted a 4% year-on-year increase in the number of people, totaling 99,000, that had registered for the voluntary self-exclusion scheme, Spelpaus.se.
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