Svenska Spel announced an increase in both net gaming revenue and net profit for its 2025 financial year, despite the closure of its land-based casino operations. The last Casino Cosmopol venue closed in the second quarter, yet the company recorded a 2% rise in net gaming revenue, totaling SEK7.69 billion ($848.1 million) for the year ending December 31, 2025. This financial upturn is noteworthy as it occurred in a regulatory environment that has recently abolished land-based casinos, compelling Svenska Spel to pivot its business strategy.
The cessation of land-based casino operations marks a strategic shift for Svenska Spel, with the last operational venue in Stockholm closing in April 2025. This closure followed the Swedish government’s legislative decision to ban land-based casinos, effective from January 1, 2026, a move endorsed by Svenska Spel. Despite this, the company’s overall financial health remained robust, primarily due to the performance of its other segments.
Svenska Spel’s President and CEO, Anna Johnson, emphasized the company’s strategic investment in technological advancement and organizational restructuring. These measures aim to bolster customer satisfaction and ensure long-term sustainable growth. With progress in these areas, the company reported an increase in both operating profit and operating margins, surpassing its financial targets.
The transition towards digital platforms proved advantageous for Svenska Spel. The Tur lottery segment remained the leading revenue generator, bringing in SEK5.26 billion during 2025, a 2% increase from the previous year. The Eurojackpot game retained its popularity among players, contributing significantly to the segment’s success, alongside the introduction of a new game, Lyckoplatsen.
The Sport & Casino segment also experienced a 2% revenue growth, reaching SEK2.12 billion. This was largely due to the performance of the Oddset sports betting brand and the online casino sector. However, the segment’s growth was somewhat impeded by a decline in the number of rounds and jackpots from the Stryktipset game compared to 2024.
Conversely, the Vegas gaming machine business reported a 15% decrease in revenue, which the company attributed to the implementation of stricter responsible gambling measures and a shift in consumer behavior towards online gaming options. This shift was reflected in an 8% increase in total online sales, which reached SEK4.87 billion, accounting for 63% of the group’s overall sales. In contrast, retail sales declined by 6% to SEK2.53 billion, alongside a 15% drop in sales from restaurants and bingo halls, which totaled SEK310 million.
Svenska Spel’s operating profit increased to SEK2.54 billion, while pre-tax profit rose by 6% to SEK2.61 billion. After accounting for SEK507 million in taxes and a SEK136 million loss from discontinued operations, the company’s net profit climbed to SEK1.96 billion, up from SEK1.77 billion in 2024. Reflecting on its financial success, Svenska Spel proposed a higher dividend of SEK1.8 billion for 2025, an increase from the SEK1.6 billion distributed in the prior year.
The company’s positive annual results were bolstered by a strong performance in the last quarter of 2025, showing a 2% increase in net gaming revenue to SEK2.13 billion. This was supported by growth in lottery and online casino products. The operating profit for the fourth quarter increased by 16% to SEK641 million, with pre-tax profit up by 6% to SEK662 million. The net profit for the quarter rose by 9% to SEK525 million.
Looking ahead, Svenska Spel is poised to continue its focus on digital transformation and strengthening its presence in the online gaming sector, amid a changing regulatory landscape that has seen the end of land-based casinos in Sweden. The company’s strategic adjustments and investments in digital infrastructure and customer satisfaction are expected to position it favorably in the evolving market. As Svenska Spel adapts to these changes, the industry will be keenly observing its next steps in driving sustainable growth and compliance in an increasingly digital domain.
5/5
