Swedish state-owned online gaming operator Svenska Spel has cited unregulated gaming as the main cause of its declining revenue.
Svenska Spel recently reported SEK4.3bn in revenue for the first six months of 2015. This represents a 2.4 per cent decline from the SEK4.5bn reported during the same period in 2014. This is significant for Svenska Spel as it is the only company licensed to offer online gaming in Sweden, where the gaming market itself is continuing to grow.
Lennary Käll, CEO of Svenska Spel, said: "The results for the quarter increased slightly, but we still feel a strong concern about the market’s uncontrolled development. Although our net revenue, happily, is around the same level as last year, we lose market share as the market grows. The competition from unregulated gaming companies is intense. We call for swift and concrete measures from both politicians and authorities to ensure that the Swedish gaming market is healthy and safe."
It is thought that unlicensed foreign operators have experienced growth by as much as 25 per cent. At the same time, Swedish Spel's online market share decreased from 22.3 per cent in 2014 to 21.6 per cent in 2015.
