Sweden’s state-run gambling operator Svenska Spel reported a downturn in the third quarter as its land-based operations were laid low by pandemic shutdowns.

On Friday, Svenska Spel reported revenue of SEK1.85b (US$210.8m) in the three months ending September 30, down 8% from the same period last year. Operating profit fell harder, down 17% to SEK531m while profits slid 64% to SEK441m, although the bulk of this profit plunge was due to deferred tax income in 2019.

The company blamed the revenue downturn on the closure this spring of its land-based Casino Cosmopol operations due to COVID-19. The Casino Cosmopol venue in Sundsvall – the company’s original casino – was permanently shuttered in August as COVID-19 proved the tipping point following a decade of pre-pandemic losses.

The Vegas brand’s slots operations suffered from the closure of over 100 host venues (restaurants, bingo halls, etc.). All told, the Cosmopol & Vegas unit’s revenue was down 59% year-on-year to SEK177m.