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Svenska Spel maintains stable H1 ahead of full unit comeback
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Svenska Spel sanctions SEK 3 2bn in direct state dividends
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Svenska Spel secures full sponsorship of ‘beloved’ Swedish Ski Association Share Svenska Spel will serve as its new
‘principal partner’ for the next five years.
Through the agreement, the state-owned lottery and betting shop operator will become the lead sponsor of Sweden’s pro-skiing federation, committing an investment of SEK 125 million (€12.5 million) in Skidförbundet’s pro-athlete and youth development programmes.
Svenska Spel’s announcement as new sponsor coincided with Skidförbundet announcing its men and women’s ski teams will be competing at this winter’s
World Ski Championships in
Oberstdorf, Germany (23 February – 7 March).
Furthermore, Svenska Spel outlined its duties to fund Skidförbundet’s new ‘social directive’ to encourage skiing as an ‘
Svenska Spel focuses on digitisation to mitigate Cosmopol hurt Share
Casino Cosmopol venues continues to disrupt Svenska Spel trading, as the state-owned operator reported a 14% decline in group Q4 net gaming revenues to SEK 2,212 million (Q4 2019: 2,247 million).
Svenska Spel has predicted that if Casino Cosmopol venues are to remain closed for a further quarter, it will face a SEK 250 million hit on corporate revenues.
Recurring casino venue closure costs, combined with further restriction to its ‘
Vegas’ arcade halls, saw Svenska Spel report an 11% decline in Q4 operating profits to SEK 690 million – down from SEK 775 million in Q4 2019.
Following a review of its strategy to overcome Covid headwinds, Svenska Spel will ‘reorganise’ its Casino Cosmopol unit which the company stated would ‘affect more than 200 employees’.
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