Svenska Spel reported year-on-year growth in net gaming revenue and net profit for fiscal year 2025, even with the closure of its land-based casino segment in Sweden following the closure of the last Casino Cosmopol unit in the second quarter.
Net revenue from gambling in the 12 months ending December 31, 2025, totaled SEK 7.69 billion (equivalent to approximately US$848.1 million). This represents a 2% increase compared to the previous fiscal year, according to data from Svenska Spel.
How Svenska Spel closed its land-based casinos and maintained growth in Sweden.
In addition to the increase in revenue, the group recorded a 10% rise in operating profit, which reached SEK 2.54 billion. Net profit also increased, rising 11% compared to the previous year, reaching SEK 1.96 billion.
The financial growth occurred in the year that Svenska Spel officially ended its land-based casino operations. The company had already been planning the closure, after shutting down several locations in previous years.
The first casino to close was the one in Sundsvall, in 2020, followed by the casinos in Gothenburg and Malmö in February 2024.
The last location to close was Stockholm, which ceased operations in April 2025. This happened a few weeks after the Swedish government voted to abolish land-based casinos, a measure supported by Svenska Spel. Land-based casinos have been officially banned in Sweden since January 1, 2026.
Despite the loss of this business, two other segments of Svenska Spel recorded growth in 2025. Therefore, the performance offset losses resulting from the closure, and the main financial indicators showed an increase.
Anna Johnson, President and CEO of Svenska Spel, said: “2025 was a year marked by investments in growth and transformation of technology, organization and culture to strengthen Svenska Spel and create long-term value.”
Johnson added: “It was also the first full year with our strategic objectives – the most satisfied customers in the gaming market, healthy gaming, and sustainable long-term growth – with progress in all areas.”
The executive also stated: “Revenue is increasing, while operating profit and operating margin are higher than the previous year. The equity ratio is strengthening, and we are exceeding our financial targets.”
How digital transformation boosted revenue and altered the sales profile.
Analyzing the group’s performance in 2025, the Tur lottery business once again led in revenue. In total, the segment generated 5.26 billion Swedish kronor in the year, a 2% increase compared to the previous year. The group noted the continued interest of players in the Eurojackpot game, and the result was also boosted by the launch of the new game, Lyckoplatsen.
In other segments, revenue from the Sports and Casino area also grew by 2% compared to the previous year, reaching 2.12 billion Swedish kronor.
Svenska Spel attributed this performance to the growth of the Oddset sports betting brand and its online casino offering. However, the result was slightly hampered by the lower number of rounds and jackpots offered by Stryktipset compared to 2024.
The Las Vegas gaming machine business was the only part of Svenska Spel to register a decline, with revenue down 15%, totaling 310 million Swedish kronor. Svenska Spel stated that the decline was due to several factors, including additional responsible gaming measures in the physical market and the increase in the number of online players.
This last statement was apparently corroborated by sales data by distribution channel. Total online sales for the year exceeded 4.87 billion Swedish kronor, an increase of 8% and equivalent to 63% of the group’s total sales.
On the other hand, retail sales fell 6% to 2.53 billion Swedish kronor, and sales in restaurants and bingo halls declined 15% to 310 million Swedish kronor.
Svenska Spel proposed higher dividends and gained momentum in the last quarter.
Looking at the final results, operating profit rose to 2.54 billion Swedish kronor, while pre-tax profit for the year increased by $6.
Svenska Spel paid 507 million Swedish kronor in taxes and also deducted 136 million pounds sterling in profits from discontinued operations. Thus, it ended 2025 with a net profit of 1.96 billion Swedish kronor, compared to 1.77 billion Swedish kronor in the previous year.
Due to the growth, Sveska Spel has proposed increasing dividend payments to 1.8 billion Swedish kronor for the year. If approved, this amount would be considerably higher than the 1.6 billion Swedish kronor paid in 2024.
Finally, Johnson said: “I would like to express my immense gratitude to all the employees of Svenska Spel for everything we achieved in 2025, and I look forward to continuing to provide joy, enthusiasm, and dreams in a safe and peaceful way in 2026.”