FIFA World Cup Propels Svenska Spel To Strongest Second Quarter Since Re-Regulation

Svenska Spel recorded its strongest second quarter since Sweden re-regulated its gambling market in 2019. This followed higher customer engagement during the 2026 FIFA World Cup, which increased revenue and profitability.

For the three months ending 30 June, the state-owned operator reported net gaming revenue of SEK1.96 billion (€177.7 million). The result was 7% higher than the same period last year and 4% above the first quarter of 2026. Operating profit rose 13% year-on-year to SEK617 million, while the operating margin improved from 30% to 31%. The company attributed this performance to steady growth across Eurojackpot, Lotto, Oddset and its casino products. 

Sports betting benefited from increased customer activity during the World Cup, with Sweden’s participation in the tournament and Svenska Spel’s partnership with the Swedish Football Association strengthening the brand’s visibility.

“Svenska Spel delivers a strong quarter,” said Anna Johnson, president and CEO of Svenska Spel. “It is the best second quarter since the re-regulation of the gaming market in 2019 with increased net gaming revenue, improved operating profit and strengthened operating margin.

“The last month of the quarter was marked by the World Cup, which demonstrates the power of football to bring people together. Svenska Spel has carried out successful activities linked to football, which has created great engagement among customers.”

Sports betting and lottery products drive quarterly revenue growth

Tur remained Svenska Spel’s largest business segment during the quarter, generating SEK1.34 billion in net gaming revenue, an increase of 7% from the previous year. Growth is supported by the Eurojackpot and Lotto products.

Revenue from the Sport & Casino division climbed 11% to SEK552 million as betting activity increased throughout the World Cup. The operator said it exceeded its tournament sales targets by 6 July, almost two weeks before the competition concluded.

June proved particularly strong, with sports betting revenue increasing 135% year-on-year. During the same month, Sport & Casino revenue rose 24%, active customers increased 36% and new customer registrations jumped by more than 340%.

Online gaming also gained momentum, accounting for 67% of total group revenue compared with 62% a year earlier.

Land-based decline fails to offset improving profit performance

The Vegas land-based gaming segment was under pressure, with revenue falling 16% to SEK69 million. Svenska Spel linked this decline to the migration of customers towards online gambling and a reduction in business partners.

However, pre-tax profit increased 22% year-on-year to SEK661 million, while tax payments of SEK137 million resulted in net profit from ongoing operations reaching SEK525 million, up 23%.

Total quarterly net profit increased 52% compared with an SEK81 million loss a year earlier, including SEK1 million in profit from discontinued operations. The improvement can be attributed to the sale of the final Casino Cosmopol property in Stockholm.

First half results show momentum across the business

The strong second quarter lifted Svenska Spel’s first half performance above last year’s levels. Net gaming revenue for the first six months reached SEK3.8 billion, an increase of 4%, while operating profit rose 8% to SEK1.28 billion. 

Pre-tax profit climbed 11% to SEK1.34 billion, and profit from continuing operations increased 12% to SEK1.07 billion. Total net profit, including discontinued operations, rose 58% to over SEK1.35 billion.

“We have a clear focus on more customers choosing Svenska Spel, and the development during the quarter shows that our priorities are having an effect,” Johnson said. “We continue to create sustainable growth by improving the customer offering, developing the gaming experience and strengthening our product brands.”

Svenska Spel has enjoyed a record second quarter on the back of the FIFA World Cup, its strongest since the Swedish market was re-regulated. More people placed wagers because of the home nation’s participation, translating to higher profits and revenue. However, casino products and lotteries also contributed to the figures.