Svenska Spel Increased Investment, Profitability Maintained for 2026
Svenska Spel said it increased brand and technology spending in its third-quarter results. Operating profit has been running above last year's level since the start of the year.
Sweden's state-owned gambling operator Svenska Spel is continuing its decision to simplify its business structure and focus on its core brands. In the third quarter, the company concentrated on Oddset, Lotto and Triss. Brand and technology investments weighed on quarterly earnings, but profitability has remained stable since the start of the year.
The group reported net gaming revenue of SEK 1.898 billion in the third quarter. This figure was up 1 percent from the same period last year. Sports betting, online casino and lottery revenues supported growth.
Operating profit fell 9 percent to SEK 656 million. The operating margin declined from 38 percent to 35 percent. Management attributed the decrease to group-wide IT transformation, including brand development work and the move to new cloud-based systems. According to the company, these expenses aim to improve the customer experience and support long-term growth.
In the nine-month period, net gaming revenue rose 3 percent to SEK 5.741 billion. Operating profit increased 2 percent to SEK 1.932 billion. The operating margin remained flat at 34 percent. The sports and casino division grew 6 percent in the third quarter, recording the strongest revenue growth. Revenue at the lottery unit Tur rose 1 percent.
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