Svenska Spel’s Commitment to Responsible Gaming Yields Positive Results in Q4
Svenska Spel’s dedication to promoting responsible gaming continues to manifest positively, as evidenced by the increase in the proportion of healthy revenues and the number of sustainable customers in the fourth quarter.
Despite the significant restructuring within the Casino Cosmopol & Vegas segment affecting the group’s revenues and results negatively, Svenska Spel’s board plans to propose a dividend of 1.9 billion SEK to its owner, as detailed in the company’s 2023 financial statements released today.
Erik Strand, CEO of Svenska Spel, acknowledges the stable performance of the group amidst global uncertainties, zero growth in the gambling market, and challenges faced by Casino Cosmopol & Vegas. He expresses satisfaction with the board’s intention to propose a substantial dividend, emphasizing Svenska Spel’s role as Sweden’s national gaming company and its contribution to the state treasury.
Financial Highlights of 2023
The net gaming revenues for the year remained steady at 8,029 MSEK, mirroring the previous year’s figures. The Sport & Casino and Tur segments experienced growth, contributing to the group’s overall stable financial performance. However, the operating result saw a slight decrease of 2%, primarily due to the challenges within the Casino Cosmopol & Vegas segment.
The group’s net gaming revenues for the fourth quarter decreased by 3% to 2,121 MSEK, with the operating result down by 16% to 485 MSEK. The decline is largely attributed to the reduced revenues from Casino Cosmopol & Vegas due to lower customer demand and ongoing restructuring measures. Nonetheless, the group’s online business continues to grow, accounting for 52% of the group’s revenues.
Strategic Moves and Future Outlook
Svenska Spel’s focus on sustainable gaming is yielding tangible results, with an increase in healthy revenues and the highest ever number of sustainable customers.
The board’s decision to propose a significant dividend underscores the group’s solid financial foundation and commitment to contributing to the public good.
With continued emphasis on responsible gaming and strategic operational adjustments, Svenska Spel is poised for future growth and success in the gaming industry.
Our Comment on the Article
Svenska Spel’s latest financial report highlights the company’s resilience and adaptability in the face of industry challenges. Their focus on responsible gaming and sustainable growth strategies is commendable and sets a benchmark for the gaming industry.
The decision to propose a substantial dividend reflects their solid financial standing and commitment to contributing to Sweden’s welfare. As Svenska Spel navigates through operational restructuring and market challenges, their dedication to innovation, responsibility, and customer satisfaction remains evident, promising a positive trajectory for the future.
