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Swedish Stock Exchange has the largest number of online gambling companies

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Stockholm’s stock exchange seems to be most preferred destination of European online gambling companies. The stock exchange hosts as many as such companies. Most of them arrived during the last year or so, following a wave of IPOs beginning in 2017.

This is a welcome news for the industry, as the country is preparing for structural re-regulation and liberalisation of its online gambling market.

LeoVegas, Aspire Global AB, Cherry, Kindred Group, Betsson and several  companies  have opted either for Nasdaq Nordic, known to be the main Stockholm board, or the First North market over the past years.

Danish developer of online gaming products Better Collective was the latest company to float on the Stockholm stock exchange. It started trading its shares on the main Nasdaq Stockholm market on June 8.

As mentioned above, the Swedish capital currently has 19 listed companies operating in the European online gambling industry, beating out the London Stock Exchange which is currently home to 16 gambling companies.

As many as seven iGaming companies have listed on the Nasdaq Nordic or First North markets since the beginning of 2017, with those being Global Gaming, Scout Gaming, Evolution Gaming, Better Collective, Cherry, Aspire Global, and LeoVegas, Bloomberg notes. Some of these have listed through initial public offering, others have moved from other platforms.

The business news outlet further points out that the companies’ performance has varied after their listing. Aspire Gaming has thus reached a 35 per cent increase in its post-listing fortune, while LeoVegas has slumped 30 per cent.

In terms of market value, London still accounts for the largest portion of European online gaming and betting companies’ collective value. However, it is important to note that Stockholm and London together currently account for 78 per cent of the total market value of gambling companies across the continent, with Greece, France, and Spain comprising top 5.

According to Nasdaq Head of European Listings Adam Kostyal, Stockholm has become an attractive stock exchange due to its well-developed community of experts and investors as well as local entrepreneurs’ reputation of early adopters of technology and innovation. The expert further told Bloomberg that he expects more listings by both local and international gaming and betting companies to take place in near future.

Sweden’s new gaming act aims to replace the country’s Lottery Act of 1994 and the Casino Act of 1999 and will scrap Svenska Spel’s monopoly over the provision of the majority of legal gambling services in the country.

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.

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