Svenska Spel reports Net Gaming revenue and profit growth in Q3 2026
Net gaming up 1% in the quarter; operating margin trimmed by strategic investments
Key Takeaways
- Svenska Spel’s net gaming revenue in Q3 2026 was SEK 1.898bn, up 1% versus Q3 2025.
- The group’s operating profit in the quarter fell 9% to SEK 656m, mainly due to higher strategic investment costs.
- For January–September 2026, net gaming revenue rose 3% to SEK 7.693bn and online sales grew 8%.
- Profit from continuing operations for the nine months was SEK 2.099bn; operating profit was SEK 2.539bn, up 2%.
The Swedish state-owned group Svenska Spel published its interim report for the third quarter and first nine months of 2026, reporting that the net gaming revenue for Q3 2026 was SEK 1.898bn, an increase of 1% (SEK 24m) compared with SEK 1.874bn in Q3 2025. The group’s operating profit for the quarter was SEK 656m, a decline of 9% (SEK 62m) from SEK 718m in the prior period, mainly attributed to higher costs from strategic investments.
Third-quarter results
The group recorded net gaming revenue of SEK 1.898bn in Q3 2026, with positive contributions from Oddset, casino, Triss and Lotto. The operating margin for the quarter was 35%, down from 38% the prior year. Svenska Spel attributes the lower operating profit to increased spending on strategic investments.
“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. During the third quarter, the positive development continues with growth and good profitability. This shows that our focus on sustainable growth is paying off.” — Anna Johnson, President and CEO of Svenska Spel
The company also highlighted the performance of its sports betting division during the summer period and the World Cup: it reached its targets for the World Cup in the final weeks of July and recorded high customer activity through the final. Svenska Spel said its partnership with the Swedish Football Association helps strengthen its commercial offering.
Nine months and operational milestones
In the January–September 2026 period, the group increased net gaming revenue by 3% to SEK 7.693bn, from SEK 7.573bn in the same period of 2025. Online channel sales grew 8% in the first nine months of the year. The group’s operating profit for January–September reached SEK 2.539bn, a 2% increase from SEK 2.317bn, with a stable operating margin of 34%.
Profit from continuing operations, excluding the terrestrial casino operations that were divested in April 2025, was SEK 2.099bn, compared with SEK 1.977bn in the prior period.
Svenska Spel closed the sale of the former Casino Cosmopol property in Stockholm to Alecta Fastigheter and recorded the transaction within discontinued operations.
Sponsorships, anniversaries and prizes
The company renewed and expanded sponsorship agreements: it extended partnerships with the ice hockey leagues SHL and SDHL until 2031, and renewed its collaboration with the Swedish Ski Association until 2032. Svenska Spel awarded 60 new elite sports scholarships in cooperation with the Swedish Sports Federation. The Triss brand celebrated its 40th anniversary with a lottery offering 40 million in prizes. In addition, one player won nearly SEK 200m in Vikinglotto, a Swedish record for that game and the ninth-largest prize in Svenska Spel’s history.
The company notes continued growth in key channels and the execution of several strategic initiatives during 2026.
Frequently Asked Questions
How much did Svenska Spel’s net gaming revenue increase in Q3 2026?
Net gaming revenue rose 1% in Q3 2026 to SEK 1.898bn, compared with SEK 1.874bn in Q3 2025, a SEK 24m increase.
Why did the group’s operating profit fall in the quarter?
The group’s operating profit decreased 9% to SEK 656m, mainly due to higher expenditure on strategic investments, which reduced the result by SEK 62m compared with SEK 718m in the prior period.
How did online sales perform for Svenska Spel in 2026?
Online channel sales grew 8% in the first nine months of 2026, contributing to a 3% increase in net gaming revenue for January–September to SEK 7.693bn.
What corporate milestones and sponsorships did Svenska Spel announce?
Svenska Spel renewed sponsorships with SHL and SDHL until 2031 and with the Swedish Ski Association until 2032, awarded 60 elite sports scholarships, celebrated Triss’s 40th anniversary, and recorded a nearly SEK 200m Vikinglotto win.
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Emilio Navarro
Industry Technology Correspondent
Emilio Navarro covers the cross-cutting technology and business of iGaming — platforms, data and AI, compliance tooling, affiliate marketing, financial results, and the stories that fit no single rubric. The reports open with the announcement, cite vendors and figures exactly as published, and keep a healthy distance from press-release language. When a supplier unveils a new engine or the advertising rulebook changes, Emilio Navarro reports what genuinely changes.
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