Svenska Spel’s FY 23 results, stability in economic uncertainty

Lea Hogg March 21, 2024

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Svenska Spel’s FY 23 results, stability in economic uncertainty

In the face of global economic turbulence, Svenska Spel has emerged as a paragon of resilience, as detailed in its 2023 annual report. The Swedish gambling operator has navigated a year fraught with challenges, yet managed to maintain a stable position and achieve commendable outcomes.

Svenska Spel is a state-owned company operating in the regulated gambling market in Sweden.?It offers a variety of games including sports betting, casino games, and other types of games.?It also support Swedish sports development at all levels, from youth to elite.?They offer games like Eurojackpot, Lotto, Triss, and Keno.?

The FY23 report delineates a period characterized by significant volatility in the global and economic arenas, which precipitated a downturn in the Swedish gambling market’s turnover – a first since the market’s re-regulation in 2019. Despite these adverse conditions, Svenska Spel demonstrated remarkable stability and delivered positive results.

Key to the company’s success was the introduction of novel gaming experiences for its clientele, coupled with a concerted effort to bolster sustainable gaming practices and cultivate a nurturing environment for its employees.

Resilient performance during economic challenges

Erik Strand, the President and CEO of Svenska Spel, reflected on the year’s performance, stating, “The Svenska Spel Group made a stable result in 2023.?We had growth in two out of three business areas and we reached an operating margin of 29 percent. This is despite Casino Cosmopol’s extensive challenges and major restructuring.”

The year 2023 was a pivotal one for Svenska Spel, marked by significant changes, including the appointment of Anna Johnson as the incoming President and CEO, slated to assume the role by June 2024 at the latest.

Erik Strand, Chairman of the Board, lauded Johnson’s impending leadership, remarking, “Her drive and curiosity are excellent qualities for the task of leading Svenska Spel. We have implemented significant changes in recent years and are today well equipped to offer sustainable gaming experiences that contribute to a better Sweden.

Svenska Spel’s unwavering commitment to its mission and its ability to thrive in economic uncertainty sets a benchmark for the Swedish gaming sector.