Svenska Spells Success for Swedish Online Casino Market

Apr 25, 2007

Swedish state-owned gambling monopoly Svenska Spel, operator of over 20 different online betting games, has announced that its first quarter profits have risen by 22 percent to €157 million, compared to the same period last year. The company's net revenue upsurged by 12 percent, to €260.3 million for the quarter.

Svenska Spel's expansion into the online poker market last March has been at the helm of the company’s success, helping to bolster profits after losses in their land-based operations.

Svenska Spel CEO Jesper Karrbrink, commented: "We are happy to have now regained some of the previously lost market share. Being able to deliver such a good result in the face of fierce competition, while at the same time being a world leader in socially responsible gaming is very satisfying."

"The poker license shows how important it is to have a modern licensing system which enables us to continue providing gaming services to those that want it, in a safe and responsible environment."