Svenska Spel posts modest growth as customer engagement lifts Q3 results
Oddset, casino and Triss drive revenue while costs for strategic investments weigh on profit.
Key Takeaways
- Svenska Spel reported Q3 net gaming revenue of SEK 1,898 million, up SEK 24 million or 1 percent versus SEK 1,874.
- Operating profit for Q3 was SEK 656 million, a decrease of SEK 62 million or 9 percent, with an operating margin of 35 percent.
- January–September net gaming revenue reached SEK 7,693 million, an increase of SEK 179 million or 3 percent, and online sales rose 8 percent.
- The largest win so far was almost 200 million kronor on Vikinglotto, a Swedish record for that game and the company’s ninth-largest ever.
- Svenska Spel extended partnerships with SHL and SDHL until 2031 and with the Swedish Ski Association until 2032.
Svenska Spel reported group net gaming revenue of SEK 1,898 million for the third quarter of 2026, up SEK 24 million or 1 percent on SEK 1,874, and attributed the rise to high customer engagement across Oddset, casino and Triss. The company said operating profit for Q3 was SEK 656 million (718), a decrease of SEK 62 million or 9 percent, driven by higher costs for strategic investments.
Q3 performance and customer drivers
Net gaming revenue in Q3 grew primarily through Oddset, casino, Triss and Lotto, the company said. Svenska Spel highlighted that its sports betting business “continues to perform strongly,” and cited World Cup activity in late July that exceeded the company's goals and delivered sustained customer activity through the final. Svenska Spel also noted that its partnership with the Swedish Football Association contributes to the sports offering and customer proposition (sports).
“Growth in the Swedish gaming market is moderate, while competition for customers is fierce. Against this background, it is a statement of strength that we are taking market shares in both the license and lottery markets during the first half of 2026,” said Anna Johnson, President and CEO of Svenska Spel.
The group reported an operating margin of 35 percent for Q3, down from 38 percent in the prior comparable period.
January–September period and strategic moves
For the period January–September 2026, Svenska Spel recorded net gaming revenue of SEK 7,693 million (7,573), an increase of SEK 179 million or 3 percent. The online sales channel increased by 8 percent, the company said, and online performance was a material contributor to growth (casino).
Operating profit for the group in January–September amounted to SEK 2,539 million (2,317), reported as an increase of SEK 34 million or 2 percent in the interim statement. The operating margin for the period was 34 percent, unchanged from the comparable period. Profit for continuing operations amounted to SEK 2,099 million (1,977).
The report clarifies that income statements, operating margin and other key figures refer to continuing operations and exclude land-based casino operations discontinued in April 2025.
Partnerships, prizes and corporate transactions
Svenska Spel extended its sponsorship with Sweden’s top ice hockey leagues, SHL and SDHL, until 2031 and will remain main sponsor of both leagues and their clubs. The company also extended and expanded collaboration with the Swedish Ski Association until 2032 to include all sports within the association.
Together with the Swedish Sports Federation, Svenska Spel awarded 60 new elite sports scholarships to support athletes combining elite sport with higher studies. Triss marked its 40th anniversary with a commemorative lottery offering 40 million prizes. The year’s largest individual win so far came on Vikinglotto at almost 200 million kronor, a Swedish record for Vikinglotto and the ninth-largest win in Svenska Spel’s history.
The sale of the former Casino Cosmopol property in Stockholm to Alecta Fastigheter has been completed and is reported within discontinued operations.
Outlook and context
Svenska Spel described market growth as moderate and competition as fierce, and presented its Q3 and nine-month figures as evidence that its focus on sustainable growth and brand development is producing market-share gains in the licence and lottery segments. Anna Johnson said the company’s third-quarter results show growth and good profitability despite increased strategic investment spend.
Frequently Asked Questions
What were Svenska Spel’s Q3 2026 net gaming revenue and operating profit?
Svenska Spel reported Q3 2026 net gaming revenue of SEK 1,898 million and operating profit of SEK 656 million. The net gaming revenue rose by SEK 24 million or 1 percent versus SEK 1,874, while operating profit fell SEK 62 million or 9 percent versus SEK 718.
How did Svenska Spel perform over January–September 2026?
For January–September 2026, Svenska Spel recorded net gaming revenue of SEK 7,693 million, up SEK 179 million or 3 percent, and operating profit of SEK 2,539 million, reported as an increase of SEK 34 million or 2 percent versus SEK 2,317.
What notable prizes and corporate transactions did the interim report cite?
The report noted a Vikinglotto win of almost 200 million kronor, the largest so far in the year and a Swedish record for Vikinglotto, and confirmed the completed sale of the former Casino Cosmopol property in Stockholm to Alecta Fastigheter, recorded as discontinued operations.
What strategic partnerships did Svenska Spel extend in 2026?
Svenska Spel extended sponsorship of the SHL and SDHL until 2031 and expanded collaboration with the Swedish Ski Association until 2032. The company also highlighted an ongoing partnership with the Swedish Football Association that it said strengthens its sports offering.
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About the author
Oliver Grant
Industry Technology Correspondent
Oliver Grant covers the technology and business machinery of iGaming — platform and data deals, AI and compliance tooling, affiliate and marketing shifts, and the quarterly numbers behind them. The reports lead with the announcement, name the vendors and figures exactly as published, and separate genuine capability from press-release promise. When a supplier ships a new engine or a regulator tightens ad rules, Oliver Grant explains what actually changes for the companies involved.
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