Svenska Spel records stable revenue in H1 2023
Svenska Spel has recently reported its financial performance in the first half of the year.
The report started off with the Swedish operator’s most important statistics, with its net revenue being recorded at just over 3.9 billion kronor. This is slightly higher than the firm’s revenue figure in 2022’s first half, which was 45 million kronor lower than this year. Its operating profit, on the other hand, increased by 35 million kronor year-over-year, with it being recorded at a bit over 1.1 billion kronor in the period.
Svenska Spel’s second quarter results told a similar story, with the firm generating just under 2 billion kronor in the quarter, only 5 million kronor higher than the same period last year. Its operating profit went up by 19 million kronor from 531 million to 550 million. The company also reported an increased profit margin of 28% in the quarter, increasing from last year’s 27%.
All of these improvements were able to be achieved by the company despite the challenges of its retail gambling offerings, which included its Casino Cosmopol establishment in Stockholm and its retail gambling terminals. The company’s online vertical experienced a sizable increase of 9% in comparison to last year’s results and was responsible for 52% of the company’s total revenue, up from last year’s 48%.