Svenska Spel revenues continue to fall

The Swedish government’s gambling enterprise Svenska Spel has experienced another less than impressive quarter, reporting lower Q1-2015 results, although the online division fared better than other verticals in the business.

The quarterly results included:

* Revenue down 4.7 percent year-on-year at SEK 1.19 billion;

* Online revenue up 5.5 percent to SEK 421 million;

* Mobile revenue up 53 percent;

* Hopes for better performance if and when government allows the company to offer online casino action;

* Continued cost-cutting – principally in marketing – to improve margins;

* The company, which is constrained in its marketing activity by government policy, continues to be out-marketed by competitors, who are dominating the sector in terms of advertising.

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