Svenska Spel has reported its financial results for the first quarter of 2026, as net gaming revenue for the operator grew 2% to nearly SEK1.9bn (US$206.2m), driven by growth across its lottery, sports & casino and online businesses.
"We have high ambitions for 2026 and one of our priorities is sustainable growth with a focus on our strong products. It is therefore positive that the year is starting with growth in line with the market, with the product brands as the driving force," Svenska Spel President & CEO Anna Johnson said.
Net gaming revenue for the operator’s lottery vertical managed to increase 2% from the prior year period, despite jackpot levels failing to reach the same levels as those witnessed during Q1 2025. Svenska Spel confirmed its lottery business continues to “develop positively,” while Eurojackpot is maturing “slightly better” than in the corresponding quarter.
Across Svenska Spel’s sports & casino business, revenue increased 3% due to higher customer activity and a larger average stake per customer during the first quarter of 2026.
On 10 December, Svenska Spel named industry veteran Mårten Forste as its new Business Area Manager for Sport & Casino, with the appointment having taken effect in February 2026. Forste brings extensive experience from the online gaming sector, having previously served as COO at LeoVegas and held senior roles at Expekt.com.
While the 2026 Winter Olympics contributed to the increased revenue for Q1, the “normal range” of Olympic breaks had a negative effect on pool betting for Svenska Spel.
The operator also reported a decrease in its Vegas business area, however, as revenue fell 17% year-on-year due to “more and more customers” continuing to prefer online gambling.
Online operations for Svenska Spel increased 7% during Q1 2026, as well as accounted for 67% of the group’s total revenue for the quarter.
Despite the fall in revenue from its Vegas business area, Svenska Spel managed to increase operating profit by 4% during the first quarter of 2026 for a total of SEK659m. Costs remained in line with those from the prior year period, leading to an operating margin of 35% for Q1 2026.
Svenska Spel signed an agreement to sell the Hasseln 1 property at Kungsgatan 65 to Alecta Fastigheter on 12 December, marking the final step in the winding down of its land-based casino operations
