Sweden Sees 1.2% Dip in Gambling Revenue for 2023
Date: 2024-03-04 Author: Dima Zakharov Categories: EVENTS
Revenue Trends in Sweden:
In 2023, the licensed gambling revenue in Sweden experienced a downturn, totaling SEK27.13 billion, marking a 1.2% decrease from the previous year's SEK27.45 billion. This data, revealed by the national regulator Spelinspektionen, highlights a concerning trend within the country's gambling industry.
Online Sector Challenges:
The online gambling segment, which serves as a significant revenue source, faced challenges, with a 0.7% decline compared to the previous year, amounting to SEK17.03 billion. This downturn contrasts sharply with the 6.0% growth witnessed in 2022, indicating a shifting landscape for online gambling operators in Sweden.
Mixed Performance in Q4:
The fourth quarter of 2023 demonstrated mixed results, with total revenue dropping by 3.2% year-on-year to SEK7.10 billion. Notably, online gambling revenue showed a slight increase of 0.23%, a deviation from the declining trend observed in previous quarters.
Government's Regulatory Measures:
The Swedish government recently proposed stricter regulations on gambling, aiming to reinforce the existing ban on offering or providing credit for gambling activities. These measures would restrict operators from processing deposits or bets financed by credit, including the use of credit cards, with an emphasis on promoting responsible gambling practices.
Outlook for 2024:
With regulatory changes on the horizon and a shifting revenue landscape, the Swedish gambling industry faces uncertainties in the coming year. The implementation of stricter regulations may impact revenue figures further, echoing similar measures adopted in other major gambling markets like Norway.
