Sweden regulated market sees further decline

swedenchipsLotteriinspektionen Sweden’s Gambling and Lottery Authority, published its national gambling H1 2014 report showing a decline in revenues of 3% year on year. The poor performance figures showed nearly all verticals (apart from sports betting), down in revenues for the first half of 2014.

The market report, showed that regulatd operators had a gross turnover of SEK19.3bn (£1.6bn), however gaming revenues had contracted  by 11% year on year to SEK7.8bn (£678m).

Lotteriinspektionen Communications Manager Joakim Rönngren commented that the results for the market had been ‘sluggish’, further noting that the Swedish market had become a ‘Slow player for most customers’.

Earlier this August, state owned,  Svenska Spel reported a 6.2 percent profit loss over the previous year. The company claimed that net gaming revenues decreased from SEK 2.50 million (US (£215,000) to SEK 2.293 million (£190,200) for the first quarter of 2014.

 

Svenska Spel senior management announced earlier this year that it had applied to the Swedish Regulator for an online casino licence, which it hopes will help generate new revenues for its operations.

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