|Swedish state-owned gambling monopoly Svenska Spel, operator of over 20 different online betting games, has announced that its first quarter profits have risen by 22 percent to €157 million, compared to the same period last year. The company’s net revenue upsurged by 12 percent, to €260.3 million for the quarter.|
Svenska Spel’s expansion into the online poker market last March has been at the helm of the company’s success, helping to bolster profits after losses in their land-based operations.
Svenska Spel CEO Jesper Karrbrink, commented: ‘We are happy to have now regained some of the previously lost market share. Being able to deliver such a good result in the face of fierce competition, while at the same time being a world leader in socially responsible gaming is very satisfying.’
‘The poker license shows how important it is to have a modern licensing system which enables us to continue providing gaming services to those that want it, in a safe and responsible environment.’