Key Moments:
- Svenska Spel recorded a 7% year-on-year rise in Q3 net gaming revenue, reaching SEK 1,874 million.
- The company’s online segment expanded by 15%, accounting for 65% of total revenue in the quarter.
- Svenska Spel awarded two major Eurojackpot prizes to Swedish winners, including the third largest in company history.
Financial Performance and Business Segment Highlights
Svenska Spel announced that its net gaming revenue for the third quarter totaled SEK 1,874 million, up from SEK 1,754 million in the same period last year. This SEK 120 million increase reflects a robust 7% growth, powered primarily by popular brands such as Eurojackpot and Oddset. Two out of three business divisions delivered year-on-year revenue increases, contributing to the group’s improved bottom line.
The company’s Luck division saw net gaming revenue climb 7%, buoyed by continued enthusiasm for Eurojackpot, which benefited from two Swedish jackpot winners in 2025. In addition, Lotto experienced renewed interest following its relaunch later in the quarter.
In the Sport & Casino segment, net gaming revenue advanced 9% compared to the same quarter last year. Growth in sports betting through the Oddset brand and higher engagement with online casino products fueled this momentum. Activity around ice hockey’s season start prompted increased participation in the Powerplay hockey game.
Conversely, the Vegas segment reported a 10% year-on-year decline, reflecting broader economic challenges facing business partners.
Operating Profit, Margins, and Channel Mix
The group’s operating profit surged by SEK 112 million, or 19%, to SEK 718 million in the quarter. Operating margin improved from 35% to 38%. Online revenues grew by 15% year-over-year and now make up 65% of the group’s total revenue, up from 60% a year earlier.
| Metric | Q3 2025 | Q3 2024 | Change |
|---|---|---|---|
| Net Gaming Revenue (SEK million) | 1,874 | 1,754 | +7% |
| Operating Profit (SEK million) | 718 | 606 | +19% |
| Operating Margin | 38% | 35% | +3 pts |
| Online Share of Revenue | 65% | 60% | +5 pts |
Recent Prize Payouts and Initiatives
During the quarter, Svenska Spel awarded ninety million-kronor prizes in its lotteries, collectively amounting to just over SEK 805 million. The quarter’s largest payout was over SEK 409 million via Eurojackpot – the company’s third-highest on record. A SEK 160 million prize was also recorded for Lotto’s Dream Prize. In the sports and casino category, nineteen million-kronor prizes were distributed, with eleven on Stryktipset and eight on Europatipset. The top sports betting win exceeded SEK 10 million.
As part of its sports sponsorship program, Svenska Spel and the Swedish Sports Federation granted sixty new elite sports scholarships of SEK 60,000 each. Recipients represent 40 specialist sports associations and benefit from enhanced capacity to balance top-level sports with academic studies.
Company commitment to research remains strong, with the independent research council now marking fifteen years and a total distribution of over SEK 100 million to domestic projects on gambling and responsible gaming since 2010. For the current year, six new projects were allocated a combined SEK 5 million.
Additional Quarterly and Year-to-Date Highlights
- Lotto introduced a refreshed offering, expanding opportunities for players to win millionaire prizes.
- Continuing operations exclude land-based casino activities, which are now classified as discontinued.
- Sixty new elite sports scholarships awarded, supporting athlete education and sports ambitions.
- SEK 5 million distributed to six new gambling research initiatives.
January – September 2025: Extended Performance Overview
For the first nine months of the year, Svenska Spel posted net gaming revenue of SEK 5,562 million, compared to SEK 5,479 million in the previous year – a gain of SEK 83 million or 2%. Online channel growth reached 9%. Group operating profit stood at SEK 1,898 million, up SEK 135 million or 8%, while operating margin improved to 34% from 32%. Profit from continuing operations was SEK 1,536 million.
Casino Cosmopol in Stockholm ceased operations on April 25, following a parliamentary decision on the future of land-based casinos, and its related property is currently being offered for sale.
- All financial figures pertain exclusively to continuing operations, excluding land-based casino results.
- The launch of Lyckoplatsen introduced a new lottery, with a national playing field and player-driven winning strategy.
- The Tips-SM event saw the top three tipsters allocate half a million SEK to sports clubs through sponsorship initiatives.
- Sweden’s and the company’s largest recorded win of SEK 1.25 billion was secured on Eurojackpot.
- The Administrative Court in Linköping reversed a prior Swedish Gambling Authority decision against Svenska Spel Sport & Casino AB relating to a 2021 duty of care case; the authority has appealed the ruling.
- Author
Daniel Williams
