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Svenska Spel to Pay SEK2.9B Dividend to Government
Svenska Spel has announced that it will pay a dividend of SEK2.9bn back to the Swedish government after a year’s trading which saw growth in several key metrics.
Government dividend was marked as the headline announcement by Svenska Spel publishing its full-year 2021 results, in which Sweden’s monopoly for lotteries and land-based gaming performed above expectations.
The monopoly’s TUR lottery unit performed similarly to its FY2020 performance, generating revenues of SEK4.91bn in FY2021 compared to FY2020’s corresponding SEK4.85bn figure.
Operationally, the TUR unit implemented an improved customer experience on its digital channels, designing a more personalised service for its users. Additionally, it launched its Viking Lotto platform as well as several digital lottery games.
Meanwhile, net gaming revenues totalled SEK8.14bn, an increase of 6% on FY2020’s corresponding results of SEK7.67bn.
Revenue growth was attributed to the improved performance of Svenska Spel’s Sports and Casino business, which recorded a 20% increase in revenues to SEK2.35bn from SEK1.95bn in FY2020.
In 2021, Svenska Spel continued to be impacted by COVID-19 restrictions as the company could only partially reopen in land-based Casino Cosmopol and Vegas units with several waves of the virus forcing the government to act.
The closure of the Casino Cosmopol and Vegas unit would impact Svenska Spel’s operating profits to SEK2.46bn, up 3% on 2020 results of SEK2.39bn.
The Swedish monopoly noted a tough end-of-year closing as “renewed effects of the pandemic impacted two of main business areas”, shrinking Q4 profits by 13% to SEK601m.
“I am pleased that the board intends to propose a dividend of SEK2.9bn to the state,” commented Patrik Hofbauer, President and CEO of Svenska Spel.
“The fact that our surplus goes to the Swedish people via the Treasury is one of the reasons why we are the entire Swedish gaming company.
“Our operations are still strongly affected by the pandemic, but have good growth and profitability for the Group.”
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Bingo Paradise, a prominent UK iGaming affiliate, has announced its most successful quarter ever, achieving record growth during Q3 2024. The portal saw an unprecedented rise in first-time depositors (FTDs), a testament to its commitment to delivering value to players and operators in the highly competitive iGaming space.
“Q3 2024 has been a standout quarter for Bingo Paradise,” said Tom Waite, Manager of Bingo Paradise. “Our success is thanks to the hard work of our small team of talented writers and the oversight of our dedicated compliance manager. Together, they ensure that we provide honest, transparent reviews and operate within the highest industry standards. This, combined with our marketing efforts, including SEO and negotiating exciting player offers with operators, has been key to sending substantially more FTD’s to the operators.”
Bingo Paradise achieved a 65.24% year-over-year increase in FTDs compared to Q3 2023. This impressive growth underscores the affiliate’s focus on player-first strategies, such as creating honest, well-researched reviews that empower users to make informed decisions. The team’s compliance manager ensures every piece of content adheres to strict regulations, building trust with both players and operators.
A key factor in the platform’s success is its ability to negotiate exclusive offers with UKGC-licensed operators. These partnerships allow Bingo Paradise to provide unique deals that resonate strongly with players, enhancing its appeal as a go-to player resource. The focus on promoting only licensed operators also ensures fairness and security for users, which further solidifies the portals reputation.
The brands approach is a model of integrity and innovation. By prioritising compliance and transparency, Bingo Paradise, which itself is owned by Meteor Marketing Ltd has positioned itself as a trusted affiliate partner, both for operators seeking reliable collaborations and for players looking for guidance in the iGaming world. As the platform celebrates its Q3 2024 achievements, it remains committed to exploring new opportunities and maintaining its high standards.
Eagerly anticipated release now confirmed following a highly successful exclusivity period with Rush Street Interactive
Play’n GO has today announced the official US release of its hit title Colt Lightning Firestorm, following a three-week period of exclusivity with Rush Street Interactive brands BetRivers and SugarHouse.
Colt Lightning Firestorm was released in Europe and other jurisdictions in May 2024, and its release in the US comes with much fanfare following the game’s rave reviews in its short exclusivity period. The game is a sequel to the wildly popular Colt Lightning game which was released early last year, and indications at this stage suggest that this sequel may prove even more successful.
This announcement sees Colt Lightning Firestorm available to players in each state and operator with whom Play’n GO is licensed. Play’n GO first entered the online casino market in the US in 2022, and has reiterated its commitment to becoming active in every regulated market around the world.
Magnus Olsson, Chief Commercial Officer at Play’n GO said: “We’re excited to unveil Colt Lightning Firestorm to the wider online casino gaming community in the US, and have been very pleased to see its strong performance during its exclusivity period with Rush Street Interactive. We had high hopes for the game following the success of its predecessor, and we’re confident that these robust results will continue now that the game is available to an even bigger audience.”
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