Svenska Spel Sees Revenues Fall Due to Responsible Gambling Measures
A note published by Sweden’s gambling monopoly, Svenska Spel, blamed the “responsible gambling measures” introduced six months ago for a 6.2% loss in profits.A report on the first quarter saw a decrease in net gaming revenues by SEK186 million compared to the same period last year.
Overall the group had an operating profit of SEK1.243 million, SEK83 million less than in 2013.
The CEO of Svenska Spel, Lennart Käll, said that the decrease in revenues was expected and predicted that the trend would continue over the coming months.
However, he said the company has adopted measures to make a saving of SEK36 million.
The company’s head of Corporate Social Responsibility, Zenita Strandänger, explained that the company works to prevent gambling addiction by offering a variety of gaming tools and restricting marketing on games that are considered problematic. Furthermore, Strandänger said that the company uses “education and information to explain the risks of gambling, and we support research.”
One reason for the decline in profits was the company’s decision to cut all bonus and promotional campaigns as they are “known to increase gambling among those with gambling problems.” The responsible gambling measures also include the sponsorship of a professorship at Lund University to study problem gambling.