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SVENSKA SPEL REVENUES CONTINUE TO FALL
25th April, 2015 at 09:29:32
Swedish gambling firm sees Q1-2015 revenues fall 4.7 percent.
The Swedish government's gambling enterprise Svenska Spel has experienced another less than impressive quarter, reporting lower Q1-2015 results, although the online division fared better than other verticals in the business.
The quarterly results included:
* Revenue down 4.7% year-on-year at SEK 1.19 billion;
* Online revenue up 5.5% to SEK 421 million;
* Mobile revenue up 53 percent;
* Hopes for better performance if and when government allows the company to offer online casino action;
* Continued cost-cutting - principally in marketing - to improve margins;
* The company, which is constrained in its marketing activity by government policy, continues to be out-marketed by competitors, who are dominating the sector in terms of advertising.
Related News Tags: Sweden
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