Swedish gambling regulator Svenska Spel has unveiled its interim report for 2023, highlighting stable gambling revenue. The regulator reported a net income of 8.2 million Swedish kronor ($766 million), calculated post the fourth quarter.
While overall profit figures experienced a decline with $46 million in operating profit for 4Q, marking a 16% decrease from 3Q, Svenska Spel garnered $222 million in operating profit for the entire year with a 30% profit margin. Despite a 3% dip in total turnover for 2023 compared to 2022, amounting to $185 million, the regulator attributed the decrease to the closure of a portion of Casino Cosmopol. The net gaming revenue in this segment fell by 25%, with the social casino market facing tough competition from the online gambling market.
