Swedish government-operated gaming firm Svenska Spel has reported net gaming revenue of SEK 3.7 billion (€356 million) for the six months ending June 30, 2020. The numbers show a 9.6% drop in the overall gaming revenue.
Meanwhile, operating profit increased to SEK1.2B because of a 3.8% rise in net gaming revenues for Tur interactive lotto, reduced operating costs, as well as a positive impact on gaming tax.
The firm has grown its online casino offering, which reached 1000+ games by the end of June, in an effort to offset the suspension of live sporting events.
“We have shown an ability to innovate and perseverance during a tough time, by continuing to launch new games and improve the gaming experience for our customers. Despite the fact that COVID-19 has had significant impacts in many ways, and despite the fact that it is not over yet, it looks brighter going forward,” Patrik Hofbauer, President and CEO of Svenska Spel, said.
“We are on the way up again after having managed the rapid transition to the big and unexpected changes during the spring.”
Revenue from Tur rose 3.8% to SEK2.33B, though the Sport and Casino segment saw revenue drop 17.2% to SEK829M due to the cancellation of sporting events. Revenue from Svenka Spel’s four Casino Cosmopol locations, which remain closed, and Vegas gaming machines, the majority of which are based in restaurants that as well remain closed, was down 36.2% at SEK542M.