National revenues down 3 percent
Sweden's restrictive gambling regulatory regime continues to hobble the industry in the Nordic nation, with Lotteriinspektionen – Sweden's gambling and lottery authority – reporting this week that in the first half of 2014 revenues declined by 3 percent compared to H1-2013.
Only sports betting showed positive results, with all other verticals delivering at best a muted performance.
Lotteriinspektionen reported that the market had been "sluggish", with regulated operators logging gross turnover of SEK19.3 billion, and gaming revenues shrinking by 11 percent y-o-y to SEK7.8 billion.
The regulator's report echoes complaints from state gambling monopoly Svenska Spel, which earlier this month posted a 6.2 percent dip in profits and a decline in net gaming revenues to SEK 2.29 billion in Q1-2014, noting that it intended to apply to the regulator for permission to operate an online casino to bolster its results (see previous InfoPowa report).
Online Casino News Courtesy of Infopowa