Svenska Spel CEO concerned at ‘uncontrolled’ Swedish market

Lennart Käll, chief executive of Svenska Spel, has revealed his “strong concern” over “uncontrolled” development in the market after the Swedish state-owned lottery operator suffered year-on-year losses in the six months to June 30.

Net gaming revenue in the first half of 2015 amounted to SEK4.3 billion (€459.1 million/$498.8 million), down 2.4% on the SEK4.5 billion posted in the same period last year.

Net income for the group fell by 1.1% on a year-on-year basis to SEK2.3 billion, but operating income remained in line with last year at SEK3.3 billion.

Svenska Spel also noted that operating margin increased from 21.6% in the first six months of 2014 to 22.6% in the same period this year.

The results come despite some success in the three months to June 30, a period during which net gaming revenue remained level at SEK2.2 billion.

Operating income during the second quarter was also up 4.7% on a year-on-year basis to SEK1.1 billion while operating margin increased from 20.8% to 22.5%.

Reflecting on Svenska Spel’s performance in both the first half and the second quarter, Käll spoke of his concerns about the “uncontrolled” state of the sector, calling on regulators to ensure the Swedish market is protected better.

“The result for the quarter increased slightly, but we still feel a strong concern about the market’s uncontrolled development,” Käll said.

“We call for swift and concrete measures from both politicians and authorities to ensure that the Swedish gaming market is healthy and safe.”

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