Svenska Spel has reported impressive results with a revenue of SEK 1.97bn in the first quarter of 2023, and its online business growing by 8%.
Svenska Spel’s fiscal performance shone in the first quarter of this year, with a 2% revenue growth resulting in SEK 1.9bn ($180m). Furthermore, its online business marked an impressive 8% uplift and operating profit rose by 17%. With these results being met with success from President & CEO Patrik Hofbauer who said: “We continue to create long-term value for everyone involved,” it appears thatQ1 is set to be one of financial prosperity for the group – despite current uncertainties.
Svenska Spel have recorded a SEK 8bn revenue increase year-on-year, with operating profit reaching over half a billion. This impressive result comes despite the company facing legal repercussions for breaching Swedish advertising law – showing that their dedication to providing sustainable and fun gaming experiences is paying off! The surplus contribution also goes towards supporting local sports initiatives in Sweden.
BOS brought attention to Svenska Spel’s inappropriate use of free programming on TV4 by highlighting the lack of consumer protection. Appearing as a recreational segment, viewers were actually exposed to an illegal advertisement that did not meet established regulations.