Svenska Spel to Pay $318m Dividend to the Government

Swedish lotto and betting operator Svenska Spel launched its full-year 2021 monetary report marking an above expectation efficiency with a SEK2.9 billion ($318 million) dividend payment to the federal government.

Strong FY2021 Results

The state monopoly on lotto and gaming Svenska Spel revealed it would repay to the federal government the multi-billion dividend to commemorate a year of steady development throughout business.

“I am delighted that the board plans to propose a dividend of SEK2.9 bn to the state. The reality that our surplus goes to the Swedish individuals through the Treasury is among the reasons we are the whole Swedish video gaming business.”

Patrik Hofbauer, President and CEO, Svenska Spel

Svenska Spel exposed trading in 2021 saw development in numerous of its crucial metrics as the operator ended up the year with business profits of SEK8.14 billion ($894 million), a boost of 6% on matching outcomes of SEK 7.67 billion ($843 million) in 2020.

Development at the operator was created primarily by its Sports and Casino service which added to SEK2.35 billion ($258 million) to tape-record a 20% boost on SEK 1.95 billion ($214 million) signed up in 2020.

Svenska Spel’s lottery game department Tur which saw a brand-new head of marketing and sales considering that February 2021, signed up in 2021 earnings of SEK4.91 billion ($540 million) to publish a limited boost compared to SEK4.85 billion ($533 million) in the year prior to.

Land-Based Gaming Impacted

Regardless of the favorable tone of the report, the Swedish operator noted its efficiency was affected by the restriction-based method to dealing with the spread of the coronavirus as it might just partly re-open Casino Cosmopol and Vegas land-based video gaming systems due to the federal government acting a number of times.

“Our operations are still highly impacted by the pandemic, however have excellent development and success for the Group.”

Patrik Hofbauer, President and CEO, Svenska Spel

The closure of Svenska Spel’s land-based Casino Cosmopol and Vegas systems was approximated to have actually affected running earnings by SEK2.46 billion ($270 million), a boost of 3% compared to the effect of SEK2.39 billion ($263 million) in 2020.

Svenska Spel reported a hard 4th quarter as its earnings diminished by 13% to SEK601 million ($66 million) due to the renewed impacts of the pandemic on 2 of the business’s primary service areas.Source:

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