World Cup Betting Lifts Svenska Spel as Online Share Hits 67%

Svenska Spel lifted second-quarter revenue and profit as World Cup betting brought a sharp rise in customer activity. At the same time, the longer shift away from retail play continued.

Net gaming revenue for the quarter stood at SEK1.96 billion, an increase of 7% compared to the corresponding quarter in 2025. The increase in operating profit was higher at 13%, amounting to SEK617 million. The operating margin increased by one percentage point to 31%.

Q2 Profit Outpaces Revenue

Svenska Spel referred to the period as the company’s best second quarter since the country’s regulations regarding gambling were changed in 2019. The reported figures cover continuing operations and exclude Casino Cosmopol, whose land-based casino business was discontinued in April 2025.

Operating costs increased during the quarter, but more slowly than net gaming revenue. This supported the improvement in the operating margin.

First-half results moved in the same trend. Net gaming revenue rose 4% to SEK3.84 billion, whereas operating profit grew 8% to SEK1.28 billion.

Sports Betting Delivers June Spike

The most apparent shift happened in June as the World Cup boosted betting activity. Net gaming revenue in the Sport & Casino division rose 24% from June 2025. Sports betting revenue increased 135%.

As for the statistics of customers, the situation was even more vivid. The number of active players increased 36%, while newly registered customers rose by over 340% from June 2025. Svenska Spel said World Cup sales remained above its internal target through 6 July.

The Sport & Casino division generated SEK552 million in net gaming revenue, up 11% in the second quarter. Casino activity also contributed to the increase, although Svenska Spel did not disclose a separate casino revenue figure.

The Lottery division remained the leading one in the portfolio. Net gaming revenue in the Tur division rose 7% to SEK1.34 billion, supported by Eurojackpot and Lotto. A high Eurojackpot in May produced a record month for the product.

Online Gains as Vegas Keeps Shrinking

Online revenue grew by 14% to SEK1.31 billion, contributing 67% of total revenue in the group. Revenue via agents declined to SEK578 million, and revenue from restaurants and bingo halls decreased to SEK69 million. Vegas revenue fell 16% to SEK69 million as customers continued moving online and the number of commercial partners declined.

The quarter combines a temporary betting surge with a structural change in distribution. The harder test begins after the tournament. Svenska Spel now has a larger pool of newly registered customers, but its next reports will show whether those players stay active without a comparable betting calendar.