Sweden’s Gambling Revenue Update: Q2 2023 Sees Online Gains Amid Land-Based Declines
Commercial online gambling, including Svenska Spel, remains the dominant contributor to the sector, with Q2 online revenue reaching SEK4.57bn—marking a 9.2% increase compared to last year.
According to Spelinspektionen, Sweden’s gambling regulator, the total revenue for Q2 2023 surpassed SEK6.71bn, outpacing the SEK6.67bn generated in Q1. Commercial online gambling, including Svenska Spel, remains the dominant contributor to the sector, with Q2 online revenue reaching SEK4.57bn—marking a 9.2% increase compared to last year.
However, state-run lotteries and physical slot machine games faced a 7.5% decline, totaling SEK1.29bn. Non-profit games and national lotteries experienced a slight dip as well, with revenue slipping by 0.3% to SEK893m.
Spelinspektionen also reported a significant drop in land-based gambling revenue. Casino Cosmopol locations saw revenue plummet by 73.8% to just SEK33m, largely due to the closure of venues in Gothenburg and Malmö in February. These closures were driven by limited profitability, leaving Stockholm as Svenska Spel’s only remaining Casino Cosmopol location. In May, the Swedish government proposed ending Casino Cosmopol’s operations entirely, stating it "no longer fulfills its purpose."
Other land-based sectors showed mixed results. Community games and hall bingo revenue remained steady at SEK52m, while restaurant casino revenue rose by 5.7%, totaling SEK56m.
