Reports SWEDEN MARKET - ONLINE
Te huge impact of Covid, plus the restrictions on the gambling market, has pushed some companies out of Sweden. Cherry for example shut down in mid May. Te ComeOn Group has closed two of its Swedish licensed brands after protesting the government’s limit restrictions on deposits and bonuses. Te
Sveacasino.com and
Cherrycasino.com have closed down although sister brands such as Hajper and Snabbare still continue.
COVID AND CHANNELISATION Te huge impact of Covid, plus the restrictions
on the gambling market, has pushed some companies out of Sweden. Te Cherry/ComeOn Group closed two of its Swedish licensed brands in the summer after protesting the government’s limit restrictions on deposits and bonuses. Te
Sveacasino.com and
Cherrycasino.com brands have closed down completely, while sister brands such as Hajper and Snabbare still continue.
ComeOn hasn’t had the easiest ride in Sweden. Te company was only issued with a two year licence instead of the standard five year term due to uncertainty regarding the company. Tis group was one of several who added their comments urging Minister Ardalan Shekarabi to drop his plans to extend the limits.
Betsson AB was another. Tis company has gaming licences in 15 jurisdictions and operates 20 brands. Established in 1963 the company received its licence in Sweden in 2019 when it acquired a five year licence for four brands.
In 2019, Betsson group saw full year revenues of SEK5.17bn, a decrease of five per cent year on year, whilst gross profit was SEK3.4bn, a drop of 11 per cent. Revenue in the Nordics was SEK2.02bn.
Te drop in Betsson’s revenue was attributed to an increase in costs of payment solutions and increased costs in taxes following the re- regulation of the Swedish market.
Q3 2020 group revenue for Betsson was SEK1.6bn, an increase of 31 per cent on the same period in 2019 with casino revenue increasing by 39 per cent. Te January to September 2020 total revenue was SEK4.6bn (increase of 19 per cent). Active customers increased by 46 per cent to 920,000. Growth returned in the Nordics with an increase of 17 per cent in revenues (year on
P44 NEWSWIRE / INTERACTIVE / MARKET DATA
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