Tag Archives: Casino Cosmopol

BOS warns Wykman of Svenska Spel encroachment in online casino

SBC News BOS warns Wykman of Svenska Spel encroachment in online casino

Branschföreningen för Onlinespel (BOS), Sweden’s Trade Association for Online Gambling, has called on the government to take further actions against Svenska Spel’s presence in gambling. Writing an op-ed in the Swedish newspaper Aftonbladet, Gustaf Hoffstedt, the Secretary General of BOS, agreed with the view expressed by Financial Markets Minister Niklas Wykman that “there is no political order for a state …

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‘End of an era’ as Sweden considers closure of last Casino Cosmopol

SBC News ‘End of an era’ as Sweden considers closure of last Casino Cosmopol

The Swedish government is considering the closure of the last remaining land-based casino in the country.  A newly drafted proposal will look to take away the rights of state-owned companies to run casinos. Despite being allowed in Sweden since 1994, land-based gambling is only allowed in Casino Cosmopol – a subsidiary of the national operator Svenska Spel.  Until recently, the …

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Svenska Spel finds ‘long-term sustainability’ in Q1 results

SBC News Svenska Spel finds ‘long-term sustainability’ in Q1 results

The fallout for Svenska Spel of its Casino Cosmopol closures has reflected on the Swedish operator’s Q1 2024 results.  Smaller net revenue and profits were felt throughout the first four months of the year, but the operator remained positive that its business remains stable – with most notable results seen in its Tur lottery division.  Tur revenue improved by six …

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Underperforming Casino Cosmopol fails to take Sweden over GGR target line

SBC News Underperforming Casino Cosmopol fails to take Sweden over GGR target line

Spelinspektionen, Sweden’s Gambling Inspectorate, has released its annual report on total gambling turnover for the year ending December 2023.  According to the numbers, Swedish licence holders managed to accumulate a gross gambling revenue (GGR) of SEK 27.1bn (€2.5bn) from the local market, which constitutes a 1% YoY decrease.  State casino turnover, mainly driven by the state-owned Svenska Spel’s Casino Cosmopol, …

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Svenska Spel to close Cosmopol Gothenburg & Malmö venues on 24 Feb  

SBC News Svenska Spel to close Cosmopol Gothenburg & Malmö venues on 24 Feb  

Svenska Spel has confirmed that it will close its Casino Cosmopol venues in the cities of Gothenburg and Malmö on Saturday, 24 February. The decision follows Svenska Spel’s conclusion of negotiations with the respective trade unions on the closure of venues deemed ‘no longer profitable’ for Sweden’s state-owned gambling group. The closure of Cosmopol’s Gothenburg and Malmö venues follows Svenska …

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Svenska Spel to close Cosmopol Gothenburg and Malmö venues 

SBC News Svenska Spel to close Cosmopol Gothenburg and Malmö venues 

Svenska Spel has informed that it will close the Casino Cosmopol venues in the cities of Gothenburg and Malmö. The decision was taken as Svenska Spel continues to reorganise the Casino Cosmopol unit, which faces “issues with profitability due to a decrease in visitor numbers.” As such, Svenska Spel plans to close Casino Cosmopol locations in Gothenburg and Malmö to …

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Spelinspektionen reveals YoY drops for Swedish gambling

Spelinspektionen revises stance on negative equity licence requirement

Sweden’s betting sector took a hit during the second quarter against 2022 comparatives according to the latest figures from the Spelinspektionen, the country’s Gambling Inspectorate. Total Swedish industry revenue for the quarter stood at SEK 6.7bn (€562m), down around 1% on corresponding Q2 2022 results of SEK 6.77bn (€568m). This left year-to-date revenue also down by around 0.5% from SEK …

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Svenska Spel reports stable H1 despite negative Cosmopol & Vegas results  

SBC News Svenska Spel reports stable H1 despite negative Cosmopol & Vegas results  

Svenska Spel has declared that its H1 2023 business activities have solidified its position as the most sustainable operator in the Swedish market. In its interim trading report, Sweden’s gambling monopoly operator highlighted a ‘stable quarter’, despite challenges faced by the Casino Cosmopol and Vegas Slots units. Q2 trading saw Svenska Spel’s net gaming revenue (NGR) increase slightly to SEK …

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Svenska Spel sees positive start to 2023 despite Casmopol woes

SBC News Svenska Spel sees positive start to 2023 despite Casmopol woes

Svenska Spel has announced a positive start to year trading as online growth benefits the performance of its business units. Q1 trading for the period of 1 January to 31 March, saw Sweden’s gambling monopoly generate net gaming revenues of SEK 1.97bn (€175m) up 2% on Q1 2022 comparative results of SEK 1.92bn.   A breakdown of business segments saw Svenska …

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Svenska Spel maintain Swedish dividend duties despite 2022 slowdown

SBC News Svenska Spel maintain Swedish dividend duties despite 2022 slowdown

Svenska Spel maintains its state dividend of SEK 2bn (€155m), despite facing challenging 2022 compliance adjustments across its Swedish business portfolio. Publishing its full-year 2022 accounts, Sweden’s state-owned gambling group saw its net gaming revenues (NGR) stand at SEK 8bn (€722m), registering a 1% decline on FY2021 NRG results of SEK 8.1bn. The stagnant revenue performance reflected stricter customer compliance …

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