Svenska Spel: Restructuring results starting to show in Q2 financials

Svenska Spel President and CEO Anna Johnson has highlighted the operator’s recent restructuring, stating that it has led to “lower costs, improved earnings and a strengthened operating margin” in the second quarter of 2024.

In addition, Johnson noted that opportunities have now been created for the Swedish operator to “invest in transformation, strengthened responsible gaming work and investments that create growth”.

Casino Cosmopol closures impact overall revenue

Publishing its interim report, Svenska Spel declared an overall Q2 net gaming revenue of SEK 1.87bn (€161.8m), down by five per cent year-over-year (Q2 2023: SEK 1.97bn).

The operator noted that the decrease was partly due to its Casino Cosmopol business only having one casino open in comparison to three the previous year following the closure of casinos in Malmö and Gothenburg, resulting in a SEK 90m reduction.

Its online unit improved by eight per cent in comparison to the same period last year, accounting for 59 per ..