World Cup boosts Svenska Spel profits as customer growth jumps 300 percent

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World Cup boosts Svenska Spel profits as customer growth jumps 300 percent
Photo: Björn Larsson Rosvall/TT

The World Cup contributes enormous customer engagement and opportunities for new customer growth, CEO Anna Johnson tells TT.

The state-owned gaming group reported an operating profit of SEK 617 million for the quarter. This compares with SEK 545 million in profit in the corresponding quarter last year.

Net gaming revenue rose to SEK 1,963 million, up from SEK 1,839 million a year earlier.

The Men's World Cup has had a positive impact.

We have exceeded our sales targets and it looks very positive, coupled with huge customer engagement, says Johnson.

Sweden and Norway

The Swedes lost to France in the round of 32. Things went better for the Norwegians, who managed to reach the quarter-finals.

In terms of games, there has clearly been the greatest engagement for Sweden, followed by France. And then Norway too of course - which has really flourished, says Anna Johnson.

This year, the World Cup has expanded from 32 to 48 teams, which means more matches, and more opportunities for Swedes to bet money.

But it also becomes very drawn out. It also affects the fact that you lose a bit of engagement when there are so many matches.

Jackpot against the Netherlands

Svenska Spel earned the most from Sweden's matches during the World Cup, according to the company's statistics up to July 6.

The betting company was most impressed by the match against the Netherlands, which was played on Midsummer. The Swedes lost 1–5, but for Svenska Spel it was a jackpot.

The Netherlands vs. Sweden was the match that got the most attention. It was Midsummer's Eve at seven o'clock - it couldn't be more "prime time" for the Swedish people, says Johnson.

Match times have an impact.

The match against Tunisia was at four in the morning. That makes a lot of sense.

The third quarter could also be good in terms of results for Svenska Spel. Several World Cup matches, including the final, will be played in July.

Then the Premier League starts in the autumn too.

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By TT News AgencyEnglish edition by Sweden Herald, adapted for our readers

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