TLDR
- Svenska Spel posted its strongest second quarter since Sweden’s regulated gambling market opened in 2019.
- Net gaming revenue rose 7% to about €175 million, and operating profit climbed 13% to €55 million.
- The World Cup pushed June sports betting revenue up 135% compared to last year.
- Digital channels made up 67% of total revenue, with mobile devices accounting for 58%.
- Sweden’s unlicensed gambling market is estimated at €321 million to €652 million a year.
Svenska Spel has reported its best second quarter since Sweden opened its regulated gambling market in 2019. The company credited the World Cup for lifting both revenue and profit.
The Swedish state-owned operator posted net gaming revenue of about €175 million for the three months to June. That marks a 7% rise compared to the same period last year.
Operating profit climbed 13% to around €55 million. The operating margin improved to 31%, showing stronger profitability alongside busier customer activity.
The strong quarter followed a solid first half of 2026 for the company. Revenue across the six months reached roughly €343 million, with operating profit rising 8% to €114 million.
These figures no longer include Casino Cosmopol. The land-based casino business closed its final venue in April 2025 and stopped operating.
Staff numbers also fell during the period. Employee headcount dropped from 861 to 841.
World Cup Drives Betting Surge
The biggest change came from sports betting. International football brought in far more players during June than in previous months.
Sports betting revenue jumped 135% compared to June last year. That helped push revenue in the sports and casino division up 11%, to about €49 million.
Customer activity grew fast during the tournament. Active players rose 36%, while new sign-ups were more than 340% higher than June 2025.
The company said betting volumes tied to the World Cup beat its internal sales targets through July 6. Its long-running partnership with the Swedish Football Association also helped raise its public profile.
Lottery games kept growing too. Revenue in the Luck division rose 7% to about €120 million, helped by demand for Eurojackpot and Lotto.
A large Eurojackpot prize in May set a monthly revenue record for the game.
Digital Growth Continues as Retail Declines
Online gambling continued to take up more of the company’s business. Digital channels made up 67% of total group revenue, up 14% from a year earlier.
Mobile devices alone brought in 58% of overall revenue. That shows more customers are choosing to play on phones rather than through retail outlets.
One part of the business moved the other way. Revenue from the Vegas gaming machine segment fell 16% to about €6 million, the only major division to decline during the quarter.
Company leaders said the World Cup played a role in the quarter’s results. They also pointed to ongoing investment in online casino products and customer experience as part of their plan for growth beyond big sporting events.
Svenska Spel also shared figures on Sweden’s wider gambling market. It estimated that about 84% of gambling activity in the country takes place through licensed operators.
Sports betting had a higher rate, with between 92% and 96% of activity happening within the regulated market. The company estimated unlicensed gambling revenue in Sweden at between €321 million and €652 million a year.
