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Svenska Spel Q1-2013 Report

Monday April 29, 2013 : SVENSKA SPEL REPORTS FIRST QUARTER RESULTS

Finger pointed at foreign operators for decline in online Swedish state-controlled gaming operator Svenska Spel delivered its first quarter results for the January 1, to March 31, 2013 period this week, showing a disappointing decline in its online division attributed to customers playing on unlicenced foreign operations.

Key performance indicators include:

• Net gaming revenue for the group rose to SEK 2,480 million (Q1/2012: SEK 2,460 million), an increase of 0.8 percent.

• Operating profit for the Group of SEK 1,326 million (Q1/2012: SEK1,251 million), an increase of 5.9 percent.

• Quarterly profit for the Group was SEK 1,341 million (Q1/2012: SEK 1,283 million), an increase of 4.5 percent.

• Group operating margin was 22.8 percent (Q1/2012: 21.7 percent).

• Online net gaming revenue of SEK 58 million, down 11.3 percent 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 SEK 2 Billion 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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Gambling News :

Pokerstars Bahamas Main and High Roller Results - The inaugural PokerStars Championship Bahamas saw two big winners crowned this weekend when Christian Harder won the main event for $429,664 and Luc Greenwood took home $779,268 after taking down the $25,750 High Roller event.

Rodrigo Duterte has identified illegal gambling as his third priority - Illegal online gambling operators can anticipate tougher times in the Philippines following a directive from President Rodrigo Duterte that stamping out illegal gambling is his third most important goal after illegal drugs and government corruption.

High Hopes For Pennsylvania Online Gambling - Pennsylvania state politicians have wasted no time in getting back to work in the new legislative season, and there is renewed hope for a gambling expansion bill that includes online gambling and daily fantasy sports.

WILLIAM HILL ACCUSED OF QUESTIONABLE MARKETING TACTICS - British Labour member of parliament for Swansea East, Carolyn Harris, has described as "appalling" player-poaching techniques allegedly encouraged by the online and land bookmaker William Hill plc.

GoWild has announced the launch of its own new gaming platform - The European online gambling group GoWild has announced the launch of its own new gaming platform, providing entertainment in addition to its Microgaming games, which will now be delivered via the Quickfire platform.

UK Government Introduces Mandatory horseracing levy - The levy kicks in after the first GBP 500,000 in gross revenue has been earned by online and retail bookmaking firms and other betting organizations.

Chinese Arrested in Philippines Invalid - Representing the thirty-nine plaintiffs, defense lawyer Irene Bianca B. Distura claimed that the warrant that led to her clients’ apprehension is “invalid.”

NJ Warns No Federal Online Gambling Ban - New Jersey Senator and gubernatorial candidate Raymond Lesniak warned that any attempt to overturn a 2011 Department of Justice opinion that the federal Wire Act exclusively governs sports betting would be met with a hard-nosed reaction from his state.

Casino du Liban To Launch new online gambling platform - The venture will be in partnership with an unnamed international company, and a tender has already been launched with a deadline of January 19 to submit the proposals.

Winstar slot Pays Big Jackpot - One very fortunate online punter in Bermuda has scored a major win on the Winstar slot at the PokerStars online casino, collecting a $825,037 jackpot.

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