et gaming revenue fell by US$44 million (2.8%), from US$1.5 million in 2009 to US$ 1.5 million last year. Net sales from gaming operations for 2010 amounted to US$1 million a reduction of US$ 33 million (2.6%).
Developments during the fourth quarter show that growth in the market is currently occurring with operators other than Svenska Spel. Net gaming revenue fell by 6.8% compared with Q4 2009 and the operating profit for the quarter was US$190k million a fall of US$24 million (11.4%).
Svenska Spel's casinos implemented a new initiative during the year, with responsible gaming weeks in all the casino locations. The number of discussions with guests about their gambling habits increased, as did the number of voluntary suspensions.
Internally, 2010 was a busy year for Svenska Spel, with a strong focus on the process of change that began in 2009. The major areas of the change are now in place, but some minor adjustments remain. A process also began in the autumn intended to increase efficiency and decrease costs in the organization, in accordance with the requirements of both the owners and the board. Responsibility was sharpened even further, including through the acquisition of the subsidiary Playscan AB, the 18 year age limit for buying lottery tickets and the establishment of a research council.
"Given the conditions in the market, with an ever increasing selection of games, and given that we are taking measures to limit gambling, this is a fully acceptable result. To be able to develop in line with the market, we need to be innovative in our development within the framework of existing permits, but we also need to be given the opportunity to offer new forms of gaming that are in demand," says Anders Hägg, acting CEO of Svenska Spel.
"I am very proud of the work that has been done in our casinos. We work actively to ensure that gaming shall be and shall continue to be enjoyable. Conversations with guests prioritize young men in the 20-24 age group, whom we know to be a risk group. Overall, the number of visits to our casinos increased, but revenue was somewhat down, which is in line with our aspiration that more guests should have healthy gaming habits," says Anders Hägg.
2010 in brief
-Net gaming revenue for the Gaming and Lotteries business area was US$1 million a reduction of US$34 million (3.2%) compared to 2009.
-Net gaming revenue for the Casino Cosmopol business area was US$190.000, a reduction of US$1.26 million (0.7%) compared with 2009.
-Net gaming revenue for the Vegas business area was US$32k million (2,081), a reduction of US$6.61 (2.0%) compared with 2009.
-Net interest income/expense was US$4 million, a reduction of US$13 million compared with 2009.
-Net sales from gaming operations etc. amounted to US$1.24 million, a reduction of US$33 million (2.6%) compared with 2009.
-Operating profit totaled US$ 75k million (4,921), a reduction of US$20 million (2.6%) compared with 2009.
-Profit after financial items and tax for the period was US$75k million, a reduction of US$33 million (4.2%) compared to 2009.
-Svenska Spel acquired the subsidiary Playscan AB.
-Meta Persdotter left the position of CEO of AB Svenska Spel in June. The board appointed Finance Director Anders Hägg as acting CEO of Svenska Spel until a new CEO is recruited.
-The payout level to winners of Stryktipset and Europatipset was increased from 46 to 65 %.
-The new organization began on 1 September.
-On 1st October, Svenska Spel introduced an age limit of 18 for buying lottery tickets.
-Svenska Spel established a research council for the purpose of increasing knowledge about preventive measures to counter problem gambling.