Svenska Spel invests in brand and tech, records lower Q3 result
Brand revamp and AI projects weighed on quarterly profit despite revenue growth
Key Takeaways
- Svenska Spel executed its largest brand revamp since 1997 and increased AI and cloud migration investments in Q3 2026.
- Net gaming revenues in July–September were SEK 1,898 million (approx. €170m), a 1% year-on-year rise.
- Quarterly operating profit fell 9% to SEK 656 million (approx. €59m) due to higher development costs.
- For January–September, net gaming revenues rose 3%, operating profit rose 2%, and the operating margin held at 34%.
Svenska Spel carried out its largest brand revamp since 1997 and increased investments in artificial intelligence and cloud systems during the third quarter of 2026, according to its report of 22 October 2026. Those investments raised development costs and reduced the period’s operating profit, although net gaming revenues grew.
Third-quarter and nine-month results
In July–September the company recorded 1 898 million Swedish kronor in net gaming revenues, approximately €170 million, up 1% versus the same period in 2025. Operating profit for the quarter fell 9% to 656 million Swedish kronor (around €59 million). For the January–September period net gaming revenues rose 3%, operating profit increased 2% and the operating margin remained at 34%.
Sales through the online channel grew 8% in the first nine months of the year.
Growth areas and commercial focus
The Sport & Casino division showed progress: its net gaming revenues grew 6% in the third quarter. Svenska Spel concentrates commercial activity on the Oddset, Lotto and Triss products and is seeking to strengthen those brands and the customer experience. Sport & Casino is a standout performer within the group.
Strategic investments and roadmap
The company is migrating its IT systems to cloud services and applying artificial intelligence in development projects. Chief executive Anna Johnson described the brand renewal as the largest since Svenska Spel’s founding in 1997 and said that in the next phase technological investments and the brand revamp will proceed in parallel. Johnson said the Swedish market is growing moderately and customer competition is intense; the sports betting unit exceeded its targets during the final weeks of the football World Cup in July.
Sources
Svenska Spel interim report, 22 October 2026; SBC News note by Ted Menmuir, 23 October 2026.
Frequently Asked Questions
What figures did Svenska Spel report for Q3 2026?
Svenska Spel reported SEK 1,898 million in net gaming revenues for July–September 2026 and operating profit of SEK 656 million, representing a 1% revenue increase and a 9% profit decline versus Q3 2025.
Why did operating profit fall in the quarter?
Operating profit declined due to higher costs tied to development projects related to the brand revamp and technology investments, including artificial intelligence and migration of IT systems to the cloud.
Which business areas showed growth in the third quarter?
The Sport & Casino unit grew: its net gaming revenues increased 6% in Q3 2026, and online channel sales rose 8% in the January–September period.
What did CEO Anna Johnson say about the strategy?
Anna Johnson said the brand renewal is the biggest since Svenska Spel’s founding in 1997 and that the next phase will see technological investments and the brand revamp progress in parallel to strengthen the brands and customer experience.
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Gonzalo Marín
Industry Deals Correspondent
Gonzalo Marín covers the corporate deal flow of gambling — operator strategy, M&A, regulated-market entries, and product launches. The reports open with the transaction, cite companies, valuations, and jurisdictions exactly as released, and keep the announcement apart from its actual effect. When a Latin American operator raises capital or a European brand lands in the region, Gonzalo Marín reports who signs, for how much, and on what terms.
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