Gambling Companies’ Turnover in Sweden Fell by 1.2% to €568.5 Million in Q3
In the third quarter of 2024, the turnover of gambling companies in Sweden decreased by 1.2%, reaching €568.5 million. These figures were provided by the Swedish gambling regulator Spelinspektionen. Despite the overall decline, commercial online gambling was the only sector that showed growth.
Overall Industry Performance
As in previous quarters, the most notable growth was observed in the online gambling sector. Its turnover increased by 1.4%, totaling €370.4 million. This confirms the continuing popularity of online gaming, which remains at the peak in Sweden.
Other sectors showed less successful results. Against the backdrop of overall decline, traditional gambling sectors, including casinos and lotteries, experienced a decrease in turnover. Specifically, the turnover of state lotteries and games for public purposes dropped by 0.6%, totaling €818 million. Additionally, the turnover from slot machines fell by 2.7%, amounting to €1.36 billion.
Details of Commercial Online Gambling Growth
The commercial online gambling sector has demonstrated positive dynamics. Its turnover in Q3 2024 amounted to SEK 4.33 billion (approximately €370.4 million), which is a 1.4% increase compared to the same period last year (SEK 4.27 billion). This confirms that online gambling continues to gain popularity among Swedish users.
Decline in Turnover from Traditional Gambling Forms
Traditional forms of gambling, such as casinos and lotteries, have suffered from decreased player interest. For example, the turnover of land-based casinos in Sweden decreased by 6%, totaling SEK 63 million, and Casino Cosmopol, the largest casino in the country, experienced the biggest decline, with its turnover falling by 76.5% to SEK 31 million.
This situation in traditional gambling could also be related to potential changes in legislation. Earlier this year, Swedish authorities discussed the possibility of closing Casino Cosmopol, which could have a significant impact on the entire industry.
Increased Regulatory Control
Another important aspect is the tightening of controls over gambling operators. In particular, from 2024, Sweden has strengthened measures to combat gambling addiction. Regulators are requiring companies to implement stricter player protection mechanisms, which may also impact industry turnover.
Among the measures are:
- Mandatory checks and restrictions for users prone to gambling addiction;
- Stricter requirements for advertising and marketing to prevent gambling addiction;
- Stronger player protection regulations to ensure safer gambling experiences.
Conclusion
While the overall turnover of Swedish gambling companies in Q3 2024 declined, the growth of the online gambling sector shows that this market continues to develop. However, other sectors, such as land-based casinos and lotteries, are experiencing a decline, which could be related to changes in consumer preferences and stricter legislation.
The future of the industry remains uncertain, and further growth in online gambling will likely depend on balancing measures to combat gambling addiction with maintaining attractiveness for users.