Svenska Spel sees record Q2 performance amid World Cup uplift

The Swedish gaming operator has reported that the FIFA World Cup provided a significant lift to Q2 trading.

Sweden.- The state-owned gambling operator Svenska Spel has posted its strongest second-quarter results yet, with the FIFA World Cup providing a significant lift to betting revenue. For the three months ending June 30, net gaming revenue (NGR) came in at SEK1.96bn (€177.8m), a rise of seven per cent year-on-year and four per cent sequentially.

Operating profit climbed 13 per cent to SEK617m, while the operating margin edged up from 30 to 31 per cent.

Lottery and sports betting growth

The operator’s Luck brand saw NGR rise by seven per cent year-on-year to SEK1.34bn, driven by Eurojackpot and Lotto. A high Eurojackpot prize in May helped set a new monthly revenue record.

Meanwhile, sports and casino NGR rose 11 per cent to SEK552m, with June alone seeing a rise of 24 per cent year-on-year. Sports betting revenue was up 135 per cent during the month, boosted by World Cup wagering. The number of active customers rose by 36 per cent, while new registrations jumped more than 340 per cent compared to June 2025.

The company suggested that its long-term collaboration with the Swedish Football Association had helped it successfully tap into the World Cup betting market and create strong engagement around the tournament. Sweden reached the round of 32 before being eliminated by France. Svenska Spel has also extended its partnership with the Swedish Ski Association until 2032.

Online revenue grew 14 per cent in Q2 to account for 67 per cent of all NGR, up from 62 per cent a year earlier. Mobile gaming represented 58 per cent of total revenue.

However, not all of the operator’s divisions performed positively. NGR from the Vegas gaming hall business fell 16 per cent to SEK69m, reflecting the ongoing shift to online channels. The company reduced its headcountrom 861 to 841 as part of efficiency measures.

The challenge of continued sustainable growth

Anna Johnson, President and Chief Executive Officer of Svenska Spel, said: “We have a clear focus on getting more customers choosing Svenska Spel, and the development during the quarter shows that our priorities are having an effect.”

She added: “We continue to create sustainable growth by improving the customer offering, developing the gaming experience and strengthening our brands. The focus on casino is an example of how Svenska Spel is strengthening its customer offering. During the quarter, the company improved the customer experience, expanded functionality and launched clearer customer communication. Together, these efforts contribute to a more attractive and competitive offering.”

“We are proud of the results during the first half of the year. At the same time, we are aware that the quarter has been characterised by favourable external factors, not least the World Cup, and that continued sustainable growth will require at least as much focus and execution power going forward. We want to create gaming joy with care. This means that responsible gaming is a natural and integrated part of how we develop our offering.”

For the first half of 2026, group NGR was up four per cent to SEK3.84bn, while operating profit increased eight per cent to SEK1.28bn excluding the impact of the discontinuation of land-based casino operations following the closure of the last Casino Cosmopol in April 2025.