Svenska Spel’s profit falls despite higher revenue
Svenska Spel published its interim report for the third quarter of 2026 on 22 October. The report shows revenue continuing to rise, but operating profit fell nine percent compared with the same period last year. The state-owned gambling company blames the decline on higher costs linked to its strategic investments.
What has changed
Group net gaming revenue reached 1,898 million kronor, an increase of 24 million kronor or 1 percent, driven mainly by growth in Oddset, casino, Triss and Lotto. At the same time, operating profit came to 656 million kronor, a decrease of 62 million kronor or 9 percent, explained by higher costs for the company’s strategic investments, with the operating margin falling to 35 percent from 38 percent. Svenska Spel’s CEO Anna Johnsson notes in the report that, translated from the original Swedish, growth in the Swedish gambling market is moderate while competition for customers is fierce.
For the nine-month period, net gaming revenue totalled 5,741 million kronor, an increase of 179 million kronor or 3 percent, and the online sales channel grew by 8 percent. The company also notes that the sale of the former Casino Cosmopol property in Stockholm has been completed, with Alecta Fastigheter as the buyer, a deal reported under discontinued operations. During the quarter Triss turned 40, and the company launched an anniversary scratchcard with 40 million-kronor prizes. The report also highlights that this year’s biggest win so far fell on Vikinglotto, worth close to 200 million kronor, a Swedish record for the lottery.
What it means for you
If you have an account with Svenska Spel, you play under the same licence holder whether you use Oddset, the online casino, Lotto or Triss. This means the rule of one bonus per licence holder applies across the whole offering – you cannot get multiple welcome bonuses by switching between Svenska Spel’s own products. As with all Swedish-licensed operators, your account is covered by Spelpaus, meaning a self-exclusion applies to every licensed operator, not just Svenska Spel. If gambling starts to feel like a problem, help is available via Stödlinjen.se.
The bigger picture
Svenska Spel is state-owned, meaning profits ultimately go to the Swedish treasury rather than to private shareholders, unlike listed competitors such as Betsson or LeoVegas. The quarter’s results reflect a broader trend in the Swedish market: moderate growth and tough competition, by the company’s own account. The sale of the last Casino Cosmopol property also marks the end of Svenska Spel’s physical casino business, which has already closed entirely in favour of investment in the regulated online casino and sports betting under the Oddset brand.
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