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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’. ....
Svenska Spel revenue and profit decline despite digital growth 10th February 2021 | By Conor Mulheir Swedish state-owned operator Svenska Spel has released its results for 2020, as growth in digital revenues failed to offset the losses suffered due to the closure of its land-based business. Net gaming revenue for the 12 months ended 31 December 2020 amounted to SEK7.67bn (£667.1m/€761.6m/$923.8m), down 9% from the previous year (excluding non-recurring revenue of SEK163m, which was all received in Q4) The closure of the operator’s Casino Cosmopol chain of land-based casinos as a result of the novel coronavirus (Covid-19) pandemic resulted in a SEK777m reduction in net gaming revenues, it said. ....
ATG files trademark lawsuit over Svenska Spel horse racing brand 17th December 2020 | By Robin Harrison Former Swedish horse race betting monopoly AB Trav och Galopp (ATG) has filed a lawsuit against Svenska Spel, claiming its recently launched Svenska Spel Trav och Galopp racing product infringes on its trademark. The operator’s legal representative Per Ericsson, of law firm Gulliksson, said ATG registered the term ‘Trav och Galopp’ with the Swedish Companies Registration Office in 1973. This, Ericsson explained, meant Svenska Spel’s use of the term infringed on ATG’s exclusive rights to the trademark. “We have made Svenska Spel aware of this, but Svenska Spel has nevertheless chosen to continue with the use of Trav och Galopp in its marketing for betting on horse racing,” he said. “Therefore, we have now chosen to file a lawsuit against Svenska Spel, which will be tried by the Patent and Market Court.” ....