Sweden’s state-run gambling firms Svenska Spel and Ab Trav Och Galopp (ATG) both saw increased profits in the first quarter of 2020, a time in which most of the market’s private online gambling licensees struggled.

An interim report covering the three months ending March 31 shows Svenska Spel’s revenue effectively unchanged from the same period last year at SEK2.05b (US$207.8m), while operating profit shot up 35% to SEK701m and net profit rose one-third to SEK545m, in part due to the company reducing its marketing expenses.

Svenska Spel’s dominant Tur lottery division reported revenue rising 4% year-on-year to SEK1.14b thanks to a string of high jackpots. The Sport & Casino unit saw its revenue dip 1% to SEK538m, largely due to the mid-March cancellation of live sports due to the COVID-19 pandemic.

The already struggling Casino Cosmopol & Vegas unit’s revenue fell 11% to SEK372m as gamblers got leery about congregating in large groups in small areas. Svenska Spel closed its four casinos in March and the Vegas gaming machine business suffered as restaurants and bingo halls also shut their doors.