Svenska Spel posted net gaming revenue of SEK 1,880m in the first quarter of 2026, up SEK 30m or 2% on the same period last year, as growth in Lotto, Oddset and online casino offset a sharp decline in its land-based Vegas segment.
Operating profit rose 4% to SEK 659m, from SEK 634m in Q1 2025. Operating margin improved one percentage point to 35%. All figures exclude the group’s land-based casino operations, which are reported as discontinued following the disposal of the Casino Cosmopol business.
Segment Performance
The Tur lottery segment grew 2% year-on-year. Lotto continued to perform positively. Triss benefited from Easter falling earlier in 2026 than in 2025. Eurojackpot was slightly ahead of the prior-year quarter, though jackpot levels did not reach those seen in Q1 2025.
Sport & Casino revenue grew 3%, driven by sportsbook brand Oddset and online casino. Customer activity and average bet per customer both increased. The Winter Olympics in Milan Cortina lifted engagement relative to previous comparable events, though the tournament schedule reduced pool betting activity during the games period.
Vegas, the group’s land-based gaming network, declined 17% year-on-year. Svenska Spel attributed the fall to ongoing migration of customers to online channels and said it continues to focus on cost efficiency and profitable partnerships within the segment.
Online revenue across the group grew 7% year-on-year. Online now accounts for 67% of group income, up from 63% in Q1 2025.
Cost Base and Margin
Group costs were broadly flat compared with Q1 2025. The combination of modest revenue growth and a stable cost base produced the 4% increase in operating profit and the improvement in operating margin to 35%.
Asset Disposal
The sale of the former Casino Cosmopol property in Stockholm completed during the quarter. Alecta Fastigheter acquired the asset. The transaction is recorded within discontinued operations.
Sports Sponsorship
Svenska Spel has been a partner of Swedish sport since 1934 and contributes approximately SEK 300m annually to Swedish sporting organisations. The group is main sponsor of the Swedish Olympic Committee and of the Swedish Football Association.
Sweden’s qualification for the FIFA World Cup during the quarter is expected to support customer activity and new customer acquisition through the tournament period, according to CEO Anna Johnson.
“We have high ambitions for 2026 and one of our priorities is sustainable growth with a focus on our strong products. It is therefore positive that the year begins with growth in line with the market, with the product brands as the driving force,” said Anna Johnson, CEO and Group President of Svenska Spel.
The group’s Tips-SM forecasting competition attracted 55,600 participants and 3,600 teams in its 29th edition. Prize money of SEK 500,000 was donated to sports clubs across Sweden through the Gräsroten sponsorship initiative.
Lottery Payouts
Svenska Spel distributed 91 lottery wins of SEK 1m or above during the quarter, totalling more than SEK 287m. The largest single win was approximately SEK 34m on Lotto Drömvinsten. Sport and casino games produced 26 wins above SEK 1m, with the largest reaching SEK 4m on Stryktipset.
Triss marks its 40th anniversary in 2026, with a campaign ticket offering a top prize of SEK 40,000 per month for one year. Oddset also turns 40 this year and received additional functionality during the quarter.
Svenska Spel’s full Q1 2026 interim report is available on the company’s website. The group’s financial report coverage and Sweden’s Q3 2025 gambling revenue data provide further context on the Swedish market’s trajectory.
Source: Svenska Spel
