Swedish gaming company Aktiebolaget Trav och Galopp (ATG) revealed a nine per cent uptick in net gaming revenue to a Q1 record of SEK1.3bn (£95.8m) was fuelled by a 13 per cent rise in horse betting revenue.
The growth in ATG’s largest gaming area to SEK968m (£71.3m) for Q1 was matched by a rise in casino net gaming revenue of 14 per cent to SEK165m (£12.2m).
Despite sports betting revenue declining by 11 per cent year-on-year to SEK173m (£12.7m), chief financial officer Lotta Nilsson Viitala said sports and casino have “gained a strong position in the market since their launch in 2019 and continue to grow in terms of customer numbers.”
“Together, they now account for approximately 23 per cent of the group's net gaming revenue, revenues that lead to good results on the bottom line,” she added.
ATG said its subsidiary in Denmark, 25syv, “continues to gain market share” and grew by nine per cent in Q1.
ATG’s growth in Q1 helped total revenue amount to SEK1.5bn (£110.5m) – up nine per cent – and pushed operating profit up SEK72m (£5.3m) to SEK389m (£28.7m).
The group’s operating profit for the quarter is 26 per cent and increased by 23 per cent.
ATG’s active customer base in Q1 rose from 1.3 million to 1.4 million.
Viitala said: “ATG has many engaged customers, and it's very important for us that they are well in their gaming. Therefore, we continue to develop our responsible gaming initiatives in various ways.
“Being an efficient company and achieving a high result is important for us because ATG is and should remain the engine of the Swedish horse racing industry.
“All of our surplus goes to Svensk Travsport and Svensk Galopp.”
