In the heart of Scandinavia, the Swedish licensed games market has experienced a slight reduction in revenue, with less than a percentage point drop year-over-year during the third quarter of 2023.
Despite this small downturn, the sector reached SEK 6.73 billion, surpassing the SEK 6.77 billion of the previous year and marking the period as the most profitable of the year for the Swedish gaming market.
Detailed analysis of the Swedish gaming market
Digging deeper into the numbers, the online betting and gaming segment continues to be the most prominent, although it saw a 1.34% drop in revenue, totaling SEK 4.25 billion compared to 2022’s SEK 4.31 billion.
However, there was an increase of 1.67% compared to the previous quarter, reflecting a trend of recovery and adaptation in a dynamic market in Swedish industry.
Evolution and impact on the Swedish gaming ecosystem
The latest data, released by Swedish regulatory authority Spelinspektionen, comes at an opportune time as the institution has received a funding boost for the next three years.
This increase aims to intensify the fight against illegal gambling and the manipulation of sports results, problems that have challenged the sector.
In a further measure to strengthen the economy, the Swedish government plans to increase taxation on gross gaming revenue from 18% to 22% from 2024, hoping to generate additional revenue of SEK 540 million annually.
Furthermore, the Swedish trade association for online gaming, BOS, welcomed the Ministry of Justice’s proposals to strengthen consumer protection and increase security protocols.
These measures are a direct response to the growing challenges related to risky lending and over-indebtedness, issues that have become prominent in an ever-evolving market.