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Svenska Spel Earnings Results
Wednesday February 17,2016 : MARGINAL IMPROVEMENTS IN SVENSKA SPEL RESULTS
Positive final quarter returns company to growth, but can it last?
Sweden's partly state-owned gambling semi-monopoly Svenska Spel has enjoyed a positive final quarter to its year, enabling a limited return to growth.
The quarter delivered revenue up 1.6 percent to SEK 2.43 billion, although substantial development expenses reduced the margin to 21.3 percent - down a percentage point.
Over the full year NGR (net gaming revenue) was up only 0.2 percent marginally, reaching SEK8.96 billion, with net income rising 0.9 percent to SEK4.8 billon on slightly improved (0.4 percent) margins of 22.2 percent.
Digital revenue was among the brighter spots in the full year numbers, recording an 11 percent rise to SEK1.7 billion, with mobile producing a stellar 59 percent increase in contribution despite the company losing market share to competitors who additionally offer internet casino gaming.
Over 2015 Svenska Spel lost market share and is now down to 42 percent on land gambling market share and 20 percent in online market share.
With government talk of a more open (and therefore more competitive) market for Sweden, particularly in the online context, Svenska Spel management has renewed its call to be permitted to offer online casino action.
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
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