Swedish state-owned gambling operator Svenska Spel reported its strongest second-quarter performance since Sweden re-regulated its gambling market in 2019, as higher customer engagement during the 2026 FIFA World Cup boosted revenue and profit.
Net gaming revenue for the three months ended June 30 rose 7% year-on-year to SEK1.96 billion ($202 million), while operating profit increased 13% to SEK617 million ($64 million). The company’s operating margin improved to 31% from 30% a year earlier.
Svenska Spel attributed the performance to growth across its Eurojackpot, Lotto, Oddset and casino offerings, with the World Cup driving higher revenue and customer activity in its sports betting business. The operator also said Sweden’s participation in the tournament and its partnership with the Swedish Football Association increased its visibility throughout the competition.
“Svenska Spel delivers a strong quarter. It is the best second quarter since the re-regulation of the gaming market in 2019 with increased net gaming revenue, improved operating profit and strengthened operating margin,” President and Chief Executive Anna Johnson said.
“The last month of the quarter was marked by the World Cup, which demonstrates the power of football to bring people together. Svenska Spel has carried out successful activities linked to football, which has created great engagement among customers,” Johnson added.
The Tur lottery business remained the group’s largest segment, with revenue increasing 7% to SEK1.34 billion, driven by continued growth in Eurojackpot and Lotto.
Revenue from the Sport & Casino division rose 11% to SEK552 million, with sports betting and casino benefiting from increased customer activity during the World Cup. Svenska Spel said it exceeded its sales targets for the tournament by July 6, nearly two weeks before the competition’s end, while June sports betting revenue increased 135% year-on-year.
During June, Sport & Casino revenue rose 24% from a year earlier, active customers increased 36%, and new customer registrations jumped more than 340%.
The Vegas land-based gaming segment reported a 16% decline in revenue to SEK69 million, reflecting the continued shift towards online gambling and a reduction in business partners. Meanwhile, online revenue increased 14% and accounted for 67% of total group revenue during the quarter, up from 62% a year earlier.
Pre-tax profit increased 22% to SEK661 million, while net profit from continuing operations rose 23% to SEK525 million after SEK137 million in tax.
Total net profit for the quarter increased 52% year-on-year, helped by a SEK1 million profit from discontinued operations, compared with an SEK81 million loss a year earlier. The company said the improvement was primarily due to the sale of the final Casino Cosmopol property in Stockholm last year.
For the first half of 2026, net revenue increased 4% to SEK3.8 billion, while operating profit rose 8% to SEK1.28 billion. Pre-tax profit climbed 11% to SEK1.34 billion, profit from continuing operations increased 12% to SEK1.07 billion, and total net profit rose 58% to more than SEK1.35 billion.
“We have a clear focus on more customers choosing Svenska Spel, and the development during the quarter shows that our priorities are having an effect. We continue to create sustainable growth by improving the customer offering, developing the gaming experience and strengthening our product brands,” Johnson said.
