Svenska Spel FY25: Revenue up 2% despite land-based shutdown

Swedish operator Svenska Spel has unveiled its full-year and fourth quarterly financial report for 2025, highlighting revenue rises of 2% over the course of both periods.  

Indeed, last year marked a turning point for Swedish gaming with the closure of Casino Cosmopol’s final Stockholm location marking the end of land-based gambling in the nation for good as of 2026. Nevertheless, despite the conclusion of this sector in the nation, the organisation still managed to retain revenue growth, driving out SEK 7.7bn ($850m) over the course of the year.  

FY2025: A new era for Swedish gambling?  

2026 brought the winds of change in Sweden, with the sale of Svenska Spel’s land-based casino assets contributing to its positive revenue figure over the full year period. As the nation shifts away from its prior monopoly model, Svenska Spel retained online revenue growth of 8% year-on-year during 2025.  

Operating profits also rose by 10% in comparison to results from 2024, paired with an operating profit margin of 33% during 2025, up from 31% the year prior. Profit from continuing operations also rose by 6% year-on-year to SEK 2.1bn over the course of the full year.  

Strong fourth quarter; a sign of things to come? 

During the final three months of 2025 Svenska Spel generated a revenue figure of SEK 2.1bn, up 2% year-on-year, despite declines in its Vegas business area. Sport and casino segments both experienced revenue growth, however, with operating profits rising 16% to top SEK 641m.  

The operator has attributed this upswing to higher NGR and lower gaming tax costs. Operating profit margins also settled at 30%, up from 27% during Q4 2024. Looking forward, the company’s Board of Directors has now proposed a dividend of SEK 1.8bn to the 2026 Annual General Meeting, SEK 200m higher than last year’s proposal.  

From land-based to lottery 

Following the de-monopolisation of Sweden’s market, Svenska Spel relinquished its online casino monopoly. With the land-based casino sector now obsolete, the operator has retained its lottery monopoly, with multiple new lottery formats – including lottery Lyckoplasten – having been released.  

This latest update also falls in the wake of a new partnership which saw Fennica Gaming complete full product integration with Svenska Spel in December.  

CEO’s comments  

Speaking on these latest financial results, Svenska Spel CEO Anna Johnson said: “2025 has been a year characterised by investments in growth as well as the transformation of technology, organiasation and culture to strengthen Svenska Spel and create long-term value. It has also been the first full year with our strategic objectives – having the most satisfied customers in the gaming market, promoting healthy gaming and achieving long-term sustainable growth – with progress made in all areas. 

“The year-end is marked by continued positive earnings development, with the outcome of the fourth quarter contributing to a strong full-year result. The Group’s revenues increased, while both operating profit and operating margin were higher than in the previous year. Equity strengthened, and we exceeded our financial targets for 2025.”