Svenska Spel results for 2008
Svenska Spel made a results 2008 to 5.108 billion kronor, down 139 million compared to 2007. Excluding non-recurring items in 2007 the earnings declined with 46 million. Net revenues from gaming operations in the fourth quarter amounted to 2.15 billion kronor, up 23 million from the same period last year. Total net sales from its gaming operations were 8.071 billion in 2008, an increase of 157 million.
– “A strong result in view of the increasingly stiff competition from foreign, internet-based gambling companies and our own gaming responibility activities”Says Anders Hägg, CFO and acting CEO in 2008.
Poorer results for Svenska Spel than in 2007
The poorer outcome compared with previous years is partly due to investments made in new activities such as bingo and lottery ticket sales through sports associations. Substantial investments have also been made to replace old Jack Vegas machines with new ones with greater opportunities to offer integrated gaming solutions.
– “It is still the second best result in the company history and I am very satisfied. Competition in the gaming market has been tougher than ever in 2008. Internet-based, foreign gambling companies operating outside the Swedish regulation have increased their advertising investment by over 230 million, while we have fallen slightly and added a larger portion of our advertising budget on the Spela Lagom-advertising campaign “Says Anders Hägg.
The result for 2008 means that the National Sports and Youth Affairs will receive 1.337 billion and 182 million – which is then distributed to the sports association for children and youth activities.