Svenska Spel’s online gambling growth outpaces int’l competitors

Sweden’s state-owned gambling operator Svenska Spel posted online growth in Q1 that handily outpaced its internationally licensed competitors.

Figures released Friday by Sweden’s Lotteriinspektionen gaming regulator show the nation’s gambling market generated turnover of SEK5.63b (US$618m) in the first three months of 2018, up 2.8% from the same period last year.

Swedish-licensed land-based and online operators’ turnover slipped 1.1% to SEK4.13b while internationally licensed online gambling operators grew 15.3% to SEK1.5b. Those international sites claimed a 27% slice of the overall pie, roughly four points higher than in Q1 2017.

Svenska Spel’s total turnover was up 1.4% to just under SEK2.2b, thanks entirely to its online operations. While the state betting monopoly’s online arm still makes up less than 30% of its total turnover, the digital ops posted growth of 24.8% in Q1, while land-based turnover fell 6.1%.