SBC News
Svenska Spel Q3 net gaming revenue rises 1% to SEK1.898bn as brand and IT spending cut operating profit 9%
Sweden's state-owned operator Svenska Spel reported higher third-quarter revenue, but operating profit fell 9% to SEK656m as it spent more on its brand and a cloud IT migration. Year-to-date profit remains ahead of last year.
Svenska Spel, Sweden's state-owned gambling operator, reported third-quarter net gaming revenue of SEK1.898bn (€170m), up 1% year on year. Growth came from sports betting, online casino and lotteries, while commercial activity centred on the Oddset, Lotto and Triss brands.
Operating profit fell 9% to SEK656m (€59m), as the operating margin dropped from 38% to 35%. Management attributed the decline mainly to strategic spending, including development of the Svenska Spel brand and a group-wide IT migration to new cloud-based systems. The company said the investment is meant to improve customer experience, raise operational efficiency and support longer-term growth.
For January to September, net gaming revenue rose 3% to SEK5.741bn (€516m), and operating profit increased 2% to SEK1.932bn (€173m). The operating margin was unchanged at 34%, leaving year-to-date profit ahead of the previous year as the group entered the final quarter.
The Sport & Casino division posted the fastest growth, with Q3 revenue up 6% to SEK516m (€46m) and year-to-date revenue also up 6% at SEK1.633bn (€147m). Oddset gained from the closing stages of the football World Cup, which the company said exceeded internal targets during the tournament's final weeks in July.
In the Tur lottery division, quarterly revenue grew 1% to SEK1.316bn (€118m). Lotto and Triss supported the result, helped by greater visibility in grocery stores and a special Triss anniversary ticket. Lower jackpot levels reduced Eurojackpot activity compared with the prior year. Lottery remains the group's largest business, with year-to-date revenue of SEK3.909bn (€351m), up 3%.
Chief Executive Officer Anna Johnson said the next phase combines technology investment with the largest renewal of the Svenska Spel brand since its formation in 1997. She described growth in the Swedish gaming market as moderate and competition for customers as fierce, adding that the company took market share in both the licensed and lottery markets in the first half of 2026. The stated aim is to strengthen the core customer offering while maintaining profitability and its contribution to Swedish sport and society.
Based on reporting by SBC News.