Svenska Spel Reports Q3 Decline In Revenues

Swedish operator Svenska Spel reported falling revenues for its third quarter by 8.2% compared to the same period in 2019. The fall was down to the enforced closure of its casino operations due to COVID-19.

However its lottery and online gaming business were up by 5.2% and its online division saw a huge rise of 48% as residents stayed at home.

Overall revenues for the quarter stood at £161.3 million

chief executive Patrik Hofbauer said on the results: “Our sports games are going really well and we are also increasing revenues from number games and lotteries,” Hofbauer said. “The fact that the group’s total revenues are declining is due to the fact that our physical casinos have been closed throughout the quarter.

“Despite this, the group as a whole is still generating profits, which shows strength and stability.”