Svenska Spel posts modest Q3 2026 revenue rise as costs hit operating profit
Group NGR up 1% in Q3 to SEK 1.898bn; operating profit down 9% amid strategic spending.
Key Takeaways
- Group net gaming revenue for Q3 2026 was SEK 1.898bn, a 1% increase from SEK 1.874bn in Q3 2025.
- Operating profit for Q3 2026 declined 9% to SEK 656m, primarily due to higher strategic investment costs.
- Nine-month net gaming revenue rose 3% to SEK 7.693bn, with online channel sales up 8% year‑to‑date.
- Svenska Spel extended partnerships with SHL and SDHL through 2031 and finalised the sale of Casino Cosmopol's Stockholm property to Alecta Fastigheter.
Svenska Spel reported a 1% rise in group net gaming revenue for Q3 2026, with NGR of SEK 1.898bn in the quarter compared with SEK 1.874bn in Q3 2025 (an increase of SEK 24m). The company said operating profit for the quarter declined 9% to SEK 656m, down SEK 62m from SEK 718m in the prior-year period, primarily due to higher costs tied to strategic investments.
Quarter figures and margin
Group operating margin for Q3 2026 was 35%, down from 38% in the same quarter a year earlier. Svenska Spel attributed the drop in operating profit to increased expenditure on strategic projects while citing continued positive performance in core products including Oddset, casino, Triss and Lotto.
"Growth in the Swedish gaming market is moderate, while competition for customers is fierce," said Anna Johnson, President and CEO of Svenska Spel. "During the third quarter, the positive development continues with growth and good profitability. This shows that our focus on sustainable growth is paying off."
Johnson also pointed to strong results in the company's sports betting arm and the value of partnerships with the Swedish Football Association in driving customer activity.
Nine-month performance and channels
For the January–September 2026 period, group net gaming revenue increased 3% to SEK 7.693bn from SEK 7.573bn in the prior-year period. The company recorded an 8% expansion in the online sales channel over the first nine months of 2026. Group operating profit over the nine months reached SEK 2.539bn, up 2% from SEK 2.317bn, with a stable operating margin of 34%.
Profit for continuing operations, excluding the land-based casino operations discontinued in April 2025, amounted to SEK 2.099bn, compared with SEK 1.977bn in the prior-year period. The sale of the former Casino Cosmopol property in Stockholm to Alecta Fastigheter was finalised and recorded within discontinued operations.
Commercial milestones and partnerships
Svenska Spel extended several sponsorships and partnerships during the period. The operator renewed agreements with top-tier ice hockey leagues SHL and SDHL through 2031, and extended its collaboration with the Swedish Ski Association through 2032. The company also awarded 60 new elite sports scholarships in cooperation with the Swedish Sports Federation.
The legacy Triss brand celebrated its 40th anniversary with a commemorative lottery offering 40 million prizes. The period also included a Vikinglotto jackpot win of nearly SEK 200m, which Svenska Spel described as a Swedish record for the game and the ninth-largest win in the company's history.
Operational context
Svenska Spel highlighted market-share gains in both the licensed online market and the lottery segment during the first half of 2026. Management flagged competitive pressure in Sweden, but maintained that customer engagement and channel mix—notably online growth—supported the revenue gains.
For operators tracking sports-related performance, Svenska Spel reported that sports betting activity spiked around the World Cup period in late July, exceeding the firm's World Cup targets and sustaining elevated customer engagement through the final. Readers interested in the operator's sports business can find related coverage in our /sports section.
Svenska Spel's interim report for Q3 and the first nine months of 2026 was published 26 October 2026 and contains the full tables and notes behind the figures reported here.
Frequently Asked Questions
What were Svenska Spel's key Q3 2026 financial figures?
Svenska Spel reported group net gaming revenue of SEK 1.898bn for Q3 2026, up SEK 24m (1%) year-on-year, and operating profit of SEK 656m, down SEK 62m (9%) from SEK 718m in Q3 2025.
How did the group perform over the first nine months of 2026?
For January–September 2026, group net gaming revenue was SEK 7.693bn, a 3% increase from SEK 7.573bn, while group operating profit reached SEK 2.539bn, up 2% from SEK 2.317bn.
What drove the decline in quarterly operating profit?
The decline in Q3 operating profit to SEK 656m was primarily attributed to increased costs for strategic investments, which reduced the operating margin to 35% from 38% a year earlier.
What notable commercial milestones did Svenska Spel record in the period?
Svenska Spel extended partnerships with SHL and SDHL through 2031, renewed a collaboration with the Swedish Ski Association through 2032, awarded 60 elite sports scholarships, marked Triss's 40th anniversary with 40 million prizes, and recorded a Vikinglotto win of nearly SEK 200m.
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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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