Sweden revenues drop 33% in first two months of regulation
Betsson revenues took the biggest hit with monthly average NGR dropping 75% between Q4 and January 19
Swedish gaming NGR fell some 33% in the first two months following regulation, according to data from the Swedish tax office, pulled by Swedish analyst firm Redeye,
Redeye said monthly average NGR fell SEK 374m (£30.6m) in Q4 18 to SEK 249m (£20.4m) in January and February, thanks to the national self-exclusion scheme and mandatory deposit limits.
The analyst also estimated early market share, with Kindred leading the way.
Kindred’s average monthly NGR for Q4 was SEK 143m (£11.7m), dropping to SEK 133m (£10.8m) in January.
Betsson took the biggest hit with estimated revenues of SEK 99m (£8.1m) in Q4 slipping to SEK 24m (£1.9m) in January.
LeoVegas’ average dropped from SEK 78m (£6.4m) to SEK 47m (£3.8m) while Global Gaming’s Ninja Casino brand saw revenues slip to SEK 44m (£3.6m) from SEK 55m (£45m).
Redeye analyst Kristoffer Lindstrom said the impact of these figures would be more significant to the operators that have the majority of their business in Sweden.
“The decrease in market size shows that the new rules work in excluding the problem gamblers and that the three-second slot rules might lead to less gambling activity from the players,” Lindstrom said.
The national self-exclusion scheme Spelpaus reached 30,000 sign-ups in February.