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Sweden Records Lowest Online Gambling Revenue in Second Quarter

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4 years ago

September 15, 2020

Sweden Records Lowest Online Gambling Revenue in Second Quarter

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In Sweden, online gambling revenue touched rock bottom in the second quarter, as the sector struggled under the impact of Covid-19 outbreak. The gross gambling revenue (GGR) tumbled to SEK5.94bn (€572.4m), which is the lowest Sweden has witnessed since regulated online gaming was introduced in January 2019.

The online gambling revenue actually increased 3.6 per cent year-on-year to SEK3.61bn (€348m), but it still is a fall from the previous two quarters.

Svenska Spel, which has a monopoly in lottery and gaming machines, saw its revenue decrease by 8.5% year-on-year to SEK1.29bn.

Svenska Spel’s revenue from its lottery brand Tur increased by 3.3% to reach SEK1.18bn.

Non-profit lotteries saw an increase of 2.7% year-on-year to reach SEK950m.

The fall in online gambling revenue does not go well with the Swedish government’s fears of an increase in online casino gambling during the pandemic. The Swedish government had introduced a SEK5,000 (€476) weekly deposit cap for online casino gaming.

Related Topics:Svenska Spel Sweden

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Niji Narayan

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.