Global Gaming eyes European expansion after 2017 growth

Swedish operator Global Gaming has reported record revenues of SEK 458m (£40.3m) for the 2017 financial year.

Operating profits were up 943% on the previous year to SEK 122m (£10.7m) with profit margins up 15 percentage points to 27%.

Global Gaming CEO Stefan Olsson said growth had continued into the New Year with the operator’s flagship Ninja Casino brand up 35% on Q4 17.

Olsson also said the firm was launching a new Sweden-facing brand in the first quarter of 2018 under the operator’s Malta licence, although no further specifics were given.

Elsewhere, the operator is in the process of applying for an Estonia licence from which it offer local players the no-registration and instant cash-withdrawal service it currently offers to Swedish customers.

Olsson said the firm had invested heavily in staff, product, marketing and new offices in 2017 and would continue to do so in the short-term.

“Everything is seen as investment for the future and aimed at enabling continued strong organic growth,” he added.

“Although organic growth is our primary goal, we do not rule out the possibility that acquisition can be a solution to be effective be able to get us new markets.”

Offshore operators like Global Gaming made up 25% of the entire Swedish gambling market in 2017, figures by Swedish regulator Lotteriinspektionen have reported.

GGR for Sweden increased 3.2% year-on-year in 2017 with offshore firms reporting a GGR of SEK 5.5bn (£484m).