Svenska Spel reports that it is benefiting from the commercial activities of a newly streamlined business, as Sweden’s state-owned lottery and retail sports betting group continues its post-restructuring transition.
Following 2025 adjustments linked to the closure of Casino Cosmopol units, the operator delivered a stable start to 2026, posting Q1 net gaming revenue of SEK 1.88bn (£150.4m), up 2% year-on-year.
Overall trading remained steady, with performance supported by improved customer activity across core segments. Operating profit increased by 4% to SEK 659m (€52.7m), while the group expanded its operating margin to 35% (34%), signalling tighter cost control and a more efficient operating model.
Growth was driven by lottery products and the Oddset sportsbook, alongside continued momentum in online casino. The Tur (lottery) division remained the primary revenue engine, generating SEK 1.25bn, while Sport & Casino contributed SEK 565m.
A key structural development is the full exit from land-based casino operations, with Casino Cosmopol no longer included in continuing accounts. The sale of its Stockholm property marked the final step in removing the segment, reinforcing Svenska Spel’s shift towards a digitally-led, lower-cost model.
The group remains focused on sustainable growth through core products, with lotteries and retail/online sports betting positioned as its principal revenue drivers. Management reiterated that these verticals provide stable returns while aligning with its public mandate and responsible gambling framework.
Anna Johnson, Chief Executive Officer of Svenska Spel, highlighted the quarter as a strong start to the year, driven by engagement and product strength:
“The first quarter is characterised by increased net gaming revenue, improved operating profit and a strengthened operating margin, driven by our strong product brands such as Lotto and Oddset. It is positive that the year begins with growth in line with the market, supported by higher customer activity and engagement.
At the same time, we continue to develop our offering and strengthen our role in Swedish sport. Our engagement contributes value both to sport and to our business.”
Johnson added that 2026 marks a 40-year milestone for Svenska Spel’s brands and partnerships, as the group continues its role as a core supporter of Swedish sport and contributor to good causes.
The operator remains a key funding partner for Swedish sport, contributing approximately SEK 300m (€26m) annually, with major events such as the Winter Olympics and football qualifiers driving engagement across its betting portfolio.
Looking ahead, Svenska Spel will prioritise technology modernisation, enhanced customer experience and a strengthened multi-channel offering, as Sweden’s regulated market remains highly competitive and increasingly shaped by regulatory demands.