Svenska spel deliver lack lustre full year results
News on 8 Feb 2018
News on 8 Feb 2018
Swedish gambling monopoly Svenska Spel delivered a 1.4 percent increase in net gaming revenue and a 3.2 percent decline in profit despite reporting 59 percent growth in the mobile channel in its full year 2017 report.
“Increased costs for adaptations to the new regulations AML and GDPR, new gaming market preparation, and increased marketing costs have contributed to a lower profit of 2017 compared to 2016,” the operator said.
Key performance indicators include:
– Full year net gaming revenue amounted to SEK 8,980 million (FY2016: SEK 8,993 million), which is slightly lower than the previous year.
– Full year group profit was SEK 4,709 million (fY2016: SEK 4,866 million), a decrease of 3.2 percent.
President and CEO Lennart Käll highlighted strides the company was making in responsible gambling, saying, around 20,000 customers had voluntarily suspended themselves by year end.
“We are still strong as the Swedish people’s gaming company and meet customer demand for gaming experience with an expanded range and product development. Customers continue to give us high ratings in our satisfied customer index and we have the highest image value of the gaming companies with broad margins,” Käll said.
