written and last updated by
Sam Smith at
11 Sep 2024
Journalist, Editorial Department
Sweden's gambling regulator, Spelinspektionen, has released the financial results for the industry for the second quarter of this year. The total gross revenue reached 6.89 billion kronor (approximately $60.9 million), marking a 3.3% increase compared to the first quarter.
The online gambling segment continues to lead in revenue, with iGaming accounting for 4.57 billion kronor (around $40.4 million) — a record quarterly figure. The regulator also noted the highest level of betting activity since 2019.
In the land-based sector, Casino Cosmopol, a subsidiary of the state-owned company Svenska Spel, reported revenues of 33 million kronor (about $291,900) in the second quarter. This figure represents a decline, attributed to the government's decision to close Cosmopol venues in Malmö and Gothenburg. However, the casino in Stockholm remains operational.
The commercial land-based gambling sector saw a slight increase in revenue, rising from 53 million kronor (approximately $468,800) in 2023 to 56 million kronor (around $495,300) in 2024.
Earlier, the regulator instructed iGaming operators to prepare for technical changes to the Swedish Gambling Act. This includes the requirement to submit individual customer service action plans to Spelinspektionen. This regulatory requirement will take effect on October 1, 2024.
Additionally, under the directive from the Finansdepartementet (Swedish Ministry of Finance), iGaming companies will be required to eliminate any credit operations. A transition period for implementing these changes is set from September 1, 2024, to April 1, 2025.
It is worth noting that the Swedish gambling market's revenue exceeded 27 billion kronor in 2023.
