Svenska Spel Complaining About Competition
Thursday July 23,2015 : SVENSKA SPEL CHIEF COMPLAINS AGAIN ABOUT MARKET COMPETITION
Complaint follows another lacklustre half-year for Swedish state-owned gambling group.
Lennart Käll, chief executive of Svenska Spel, has once again complained about the competitive online gambling market in Sweden, voicing his strong concern over what he claims is "uncontrolled" development.
As before, his complaint follows a lacklustre performance by his company in the half-year to end June 2015, where Svenska Spel again posted year-on-year losses.
The company reported H1 results:
* Net gaming revenue down 2.4 percent at SEK4.3 billion;
* Net income down 1.1 percent to SEK2.3 billion;
* Little change in operating income from last year at SEK3.3 billion;
* Operating margin up 1 percent to 22.6 percent;
On a quarterly basis, compared to Q2-2014, this year NGR remained even at SEK 2.2 billion, whilst operating income was up 4.7 prcent to SEK1.1 billion, and operating margin increased 1.7 percent to 22.5 percent.
Käll appealed to the Swedish regulator to do a better job of protecting the market against unlicensed and unauthorised operators.
“We call for swift and concrete measures from both politicians and authorities to ensure that the Swedish gaming market is healthy and safe,” he said.
