Swedish gambling operator ATG reported total revenue of SEK1.42bn ($142.9m) for the third quarter of 2026, down 3% year-on-year. Operating profit fell 10% to SEK392m, even as casino net gaming revenue (NGR) increased.
Group NGR decreased 4% to SEK1.25bn. The full interim report also shows EBITDA of SEK455m, down from SEK498m a year earlier, and net income of SEK386m, compared with SEK428m. The operating margin narrowed to 28% from 30%.
ATG's horseracing NGR fell 6% to SEK902m, while sports betting NGR declined 9% to SEK156m. Casino NGR rose 13% to SEK189m, leaving it too small to offset the combined fall in the other two segments. Swedish horseracing turnover fell 7%, while international horseracing turnover increased 1%.
Denmark provided a contrasting result. Subsidiary 25Syv generated SEK119m in NGR, up 45% in Swedish kronor from SEK82m a year earlier. Its casino NGR rose to SEK69m from SEK40m.
In Sweden, casino NGR slipped to SEK120m from SEK127m. The figures show that Denmark drove the group's overall casino increase.
ATG Q3 operating profit, 2024 to 2026
ATG group operating profit for July to September of each year, in SEK millions.
ATG attributed the weaker operating result mainly to declining revenue. Its operating costs rose to SEK720m from SEK709m, while gambling tax fell to SEK309m from SEK324m. The operator said costs linked to its autumn reorganisation will appear in the fourth quarter.
The reorganisation took effect on 1 October, creating a Product division and changing commercial responsibility for horseracing, sports betting and casino.
Anna Romboli is due to become CEO in December, succeeding the interim leadership that has managed ATG since March.
For context, Sweden's licensed gambling market grew 5.1% in the second quarter, according to regulator Spelinspektionen, with commercial online gambling and betting up more than 7%. Comparable market-wide figures for the third quarter were not available when ATG published its report.
ATG is owned by Sweden's trotting and gallop racing bodies. Its surplus helps finance those sports, making the continuing contraction in horseracing relevant beyond its own accounts.
In August, Global Gaming Insider covered ATG's first-half results, which detailed a three-year plan to cut costs by SEK300m amid softer core betting revenue.
ATG's customer recommendation score fell to minus 16 from plus one a year ago; it linked the decline to dissatisfaction with V85 and plans to bring back V75 on 28 November
