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Svenska Spel 2013 interims report
Monday July 22,2013 : SWEDEN'S STATE GAMBLING COMPANY RELEASES H1-2013 NUMBERS
Svenska Spel interims report increased competition
Sweden's state gambling group Svenska Spel reported that profit after interest and tax for the first half of 2013 amounted to SEK 2.522 billion, an increase of 4.2 percent compared with same period in 2012 despite growing competition from foreign unlicensed companies in the online environment.
The gambling group reported a marginal 0.6 per cent fall in Q2 revenues to SEK 2,301 million, following poor performances by the group’s Casino Cosmopol land casino and Vegas-branded gaming enterprises.
The company’s sports betting and lottery division was the sole segment to post a year-on-year increase during the second quarter.
Chief executive officer Lennart Käll said that despite the threat of foreign companies Svenska Spel remains a strong market contender with a focus on products that deliver better margins and lower risk, enabling the company to improve its operating margins.
* Net gaming revenue for the group rose to SEK 4,781 (4,775) million, an increase of 0.1 percent.
* Net income for the Group amounted to SEK 2,522 (2,419) million, an increase of 4.2 percent.
* Net gaming revenue of Sports and Lotteries division increased revenues during the half with SEK 99 million (3.1 percent) compared with the same period last year.
* Operating margin was 22.0 (21.2) percent.
* Operating profit for the Group was SEK 2,481 (2,394) million, an increase of 3.7 percent.
* Continued decline in net gaming revenues on slots - down 9.5 percent.
* 3.8 million has been repaid to customers who have lost money due to the use of unauthorized software (bots) by 15 players which violated the company's online poker rules.
* Management has decided to fund a research professorship for addictive gambling.
* Svenska Spel is collaborating with the Swedish Sports Confederation (RF) in the fight against match-fixing and sports manipulation.
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.
Fair Play Bets and QuickFire in Deal -
Fair Play Bets enjoys an unrivalled reputation for an outstanding player experience, with secure deposits and withdrawals, surprising casino bonuses and committed customer support. Fair Play Bets is licensed in UK, Malta and Curacao.
Cavaliers Aim to Take Down Wizards on 2/22/18 -
The Cleveland Cavaliers have looked like a different team since making their moves at the trade deadline. The Washington Wizards are up next for the Cavaliers, who will be at home after the All-Star break.
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