Swedish iGaming operator Svenska Spel have reported a fall in profits as the company’s half year trading report for 2019 has been published. The company are blaming changes in the regulatory conditions imposed by Swedish gaming regulator Spelinspektionen as to why a drop in operating profits has occurred.
The state owned iGaming operator which operates a lottery, bingo, casino, poker and sportsbook site for the Swedish marketplace, ended the first half year on 30th June with €389.4 million of revenue. A decrease of 4% on the previous year.
Commenting on their half year results, President and Chief Executive of Svenska Spel, Patrik Hofbauer, , said: “Svenska Spel’s operations have stabilised following the transition to the new gaming market and we see a recovery in customer growth and revenue.”
“The customers we lost at the end of the year as a result of splitting the group into new divisions, and the transition to separate customer accounts for each have found their way back to us. We are happy that customers choose Svenska Spel. They appreciate our products, and it is safe and secure to gamble with us.”