Swedish state operator Svenska Spel ended 2025 with results exceeding the financial targets and recorded a 2% increase in online revenue in Q4. Full-year net gaming revenue was up 2% at a total of £628 million, while online sales were the main growth driver with an 8% increase. Meanwhile, operating profit was up 10% for
Swedish state operator Svenska Spel ended 2025 with results exceeding the financial targets and recorded a 2% increase in online revenue in Q4.
Full-year net gaming revenue was up 2% at a total of £628 million, while online sales were the main growth driver with an 8% increase. Meanwhile, operating profit was up 10% for a total of £200 million and an operating margin of 33%, compared to 31% in 2024.
For Q4, net gaming revenue was £155 million, which was 2% higher compared to Q4 2024. Q4 online revenue comprised 62% of the total company revenue for the quarter, and total online revenue grew 7% year-on-year.
Quarterly operating profit increased by 16% and reached £52 million.
The operator’s Luck segment, which includes lottery games, saw the quarterly NGR jump 2%, boosted by the relaunch of the operator’s Lotto offer and the new Lyckoplatsen game.
The Vegas Video Lottery Terminal offer was the only segment where Svenska Spel reported a quarterly revenue decline, with NGR dropping by 9% because of players moving to online and ongoing challenges.
Anna Johnson, President and CEO of Svenska Spel, said:
“The end of the year is characterized by continued positive earnings development, and we are exceeding our financial targets for 2025. The proposed dividend to the owner of SEK 1.8bn is an important part of Svenska Spel’s contribution to society and reflects the Group’s long-term value creation.”
The financial statements for FY25 and Q4 don’t include land-based casino operations, as they have now been discontinued by the operator.