Svenska Spel posts mixed results for 2017

Swedish state-run gambling monopoly Svenska Spel has said that while revenue remained relatively flat in 2017, profit was down 3.2% year-on-year.

Total revenue for the 12 months to December 31, 2017, amounted to SEK8.98bn (€907m/$1.11bn), but profit fell to SEK4.7bn.

Svenska Spel was boosted by impressive gains across its digital businesses, with online revenue up 18% and mobile revenue 49%.

Online activity now accounts for 25% of the total revenue at Svenska Spel, while mobile increased its share in 2017 from 10% to 15%.

Confirmation of the results comes after Svenska Spel last month announced that Lennart Käll is to step down as chief executive of the company.

Käll has headed up the business for the past seven years, having taken on the role in 2011.

Due to leave the company in the spring, Käll will continue to work with Svenska Spel in some capacity until the end of the summer.

Related article: Käll to depart as chief executive of Svenska Spel