Online success for Swedish gambling monopoly

The Swedish gambling monopoly Svenska Spel is hoping that it can build on the success of its online offering by introducing casino games, and has applied to the government for permission to do so in a planned expansion of its online and mobile channel, according to Swedish media reports.

The company sustained an unwelcome decline in profit of 6 percent in the first half of this year, but the online products grew in popularity and are now second only to the company’s retail betting divisions in revenue contributions.

Retail generates 54 percent of all revenues, but online and mobile have grown from 15 percent to 17 percent and now outperform other divisions of the group such as land bingo halls, restaurants and the terrestrial Casino Cosmopol.

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