Swedish Gaming Companies See Growth in Total Gaming Revenue in Q2

The Swedish Gambling Authority (Spelinspektionen) has published its Q2 revenue report. According to it, gambling operators with a Swedish license had a total turnover of SEK 6.9 billion, a 2.8% YoY increase. Online gambling and sports betting operators were the main contributors. They reported a total revenue of SEK 4.5 billion, a 9.2% increase compared to Q2 of 2023.

Q2 Compared to Q1 – Revenue and Biggest Contributors

Spelinspektionen’s report shows that revenue in Q2 was SEK 222 million higher than in Q1.

• Online gambling and betting companies generated SEK 4.28 billion in Q1, which is almost SEK 300 million less than in Q2.

• Slots and state lottery games generated SEK 1.29 billion in Q2, down from SEK 1.35 billion in Q1.

• Games for public purposes and national lotteries generated SEK 893 million in Q2, SEK 43 million more than in Q1 but SEK 3 million lower YoY.

Additional figures:

• Bingo halls and community games generated SEK 52 million in Q2 (same as Q2 2023, up from SEK 50 million in Q1).

• Land-based operators generated SEK 56 million in Q2, SEK 4 million higher than Q1 and SEK 3 million higher YoY.

• Svenka Spel’s Casino Cosmopol generated SEK 33 million in Q2, down from SEK 65 million in Q1 and a sharp decline from SEK 126 million in Q2 2023.

Annual Revenue Outlook

The revenue in Q2 2024 was SEK 187 million higher than in Q2 2023.

• Q1 2024 revenue reached SEK 6.67 billion, nearly SEK 100 million higher than Q1 2023 (SEK 6.58 billion).

• With a strong first half of 2024, annual revenue could surpass 2023 levels.

• 2023 revenue was the highest since 2014, setting a significant benchmark.

SGA Tracking Results and Issuing Warnings

During the summer months, Spelinspektionen has been proactive in ensuring gambling compliance.

• IF Björklöven was fined SEK 20,000 for not meeting technical requirements.

• AB Svenska Spel was fined SEK 2 million for offering Vegas slot machines without a license.

• VGIF Lotteriförening and Bingoringens Umbrella Association were fined SEK 700,000 and SEK 300,000 respectively for unlicensed bingo operations.

Conclusion

The Swedish Gambling Authority’s Q2 report reflects steady growth in licensed gambling revenue, driven mainly by online operators. While the industry shows promise for a record-breaking year, strict regulatory oversight remains a central focus, with fines and warnings underscoring the authority’s commitment to a safe and transparent gambling environment.