Svenska Spel reports first quarter results
Key performance indicators include:
• Net gaming revenue for the group rose to us$ 379.5 million (Q1/2012: 376.4 million), an increase of 0.8 %.
• Operating profit for the Group of us$ 202.9 million (Q1/2012: us$ 191.4 million), an increase of 5.9 %.
• Quarterly profit for the Group was us$ 205.2 million (Q1/2012: us$ 193.6 million), an increase of 4.5 %.
• Group operating margin was 22.8 % (Q1/2012: 21.7 %).
• Online net gaming revenue of us$ 8.8 million, down 11.3 % from the same period in 2012.
Lennart Käll, President and chief executive officer of Svenska Spel concluded that amongst other worrying trends, Sweden’s gambling advertising for the entire gambling market increased to us$ 306 million gross equating to more than Denmark, Finland and Norway’s spend combined, enticing customers to play on foreign, unlicenced websites.
Käll further believes current regulation doesn’t work as it was intended, that the regulator lacks sufficient sanctions and violations on the ban of promoting gambling continues unabated.
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