Svenska Spel continues to lag international online rivals

Sweden’s state-owned gambling operator Svenska Spel posted double-digit online growth this year but continues to lag its internationally licensed competition.

Figures released this week by the Lotteriinspektionen regulatory body show the overall Swedish gambling market generated revenue of SEK 16.2b (US $1.79b) through the first nine months of 2016, 5% higher than the same period last year.

The Svenska Spel monopoly reported flat revenue of SEK 6.5b, with land-based gambling down 3% to SEK 5.17b while online revenue jumped 12% to SEK 1.38b. Svenska Spel accounted for 40% of the market’s overall revenue through the first nine months of 2016.

Lotteriinspektionen can only estimate the revenue generated by internationally licensed online operators that accept Swedish punters, but the regulator believes this figure rose 16% to SEK 3.66b, representing about 23% of the total market, up from 21% in H1.