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SVENSKA SPEL TO REVIEW OFFERINGS
17th February, 2012 at 09:03:19
Delivers below overall market growth
State-owned Swedish gaming operator Svenska Spel has announced a review of its current offerings following its 2011 fiscal report showcasing 5% growth in profit over 2010 amounting to $5.0007 billion and a 0.7% increase in net gaming revenue.
Although delivering respectable growth in terms of profit, the firm's third highest ever results, Svenska Spel lags behind in market growth terms and will focus on recapturing market share.
To maintain our market position we need to develop aspects of our business, review our offerings and continue to improve our gaming services, says Svenska Spel chief executive officer Lennart KÃ€ll.
In line with this focus, Svenska Spel has declined to renew its $20 million per annum National Sports Federation (NSF) sponsorship, putting on hold a three-year relationship with the body which it intends to revisit at a later stage.
"We need to refocus and do the right things with the money we have. Therefore, we step off the NSF center, but we continue as active sponsors of the agreements we have with individual sports. We have heavy contracts with the big ball games," said Svenska Spel's Johan Lindvall.
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