Svenska Spel reports Q3 2023 financial performance

Svenska Spel reports Q3 2023 financial performance

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Svenska Spel reports Q3 2023 financial performance

Svenska Spel’s latest financial report covers the company’s performance in the third quarter of the year.

The company started its report by highlighting its revenue in the third quarter, which was just under 2 billion kronor or 170 million euros, and remained steady when compared to the group’s Q3 2022 revenue. This led to a similar performance for the company’s operating profit, which grew by 1% from 681 million to 686 million kronor.

Svenska Spel has been able to achieve this steady performance despite its land-based operations continuing to underperform, with the company’s Cosmopol establishment and Vegas gambling machines experiencing a 22 million kronor year-on-year decrease in their operating profits in the quarter. The main contributor to this has been the growth of the operator’s player base and share of revenue from responsible gamblers, which Svenska Spel stated allowed it to maintain steady performance in a sustainable manner.

Moreover, the company mentioned that the share of its revenue generated from responsible gamblers in the third quarter is the highest it has ever been able to achieve, which proved the firm’s responsible gambling measures to be effective.

Lastly, the operator also mentioned that throughout the quarter, it paid around 45 million kronor in winnings to its customer base, with the period’s highest prize being a monthly payment of 100 thousand kronor to a lucky player for 20 years, which will total 24 million kronor or just over 2 million euros.

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