Svenska Spel Q1-2015 revenues fall 4.7 percent

Sunday April 26,2015 : SVENSKA SPEL REVENUES CONTINUE TO FALL
 
Swedish gambling firm sees Q1-2015 revenues fall 4.7 percent.
 
The Swedish government's gambling enterprise Svenska Spel has experienced another less than impressive quarter, reporting lower Q1-2015 results, although the online division fared better than other verticals in the business.
 
The quarterly results included:
 
* Revenue down 4.7 percent year-on-year at SEK 1.19 billion;
 
* Online revenue up 5.5 percent to SEK 421 million;
 
* Mobile revenue up 53 percent;
 
* Hopes for better performance if and when government allows the company to offer online casino action;
 
* Continued cost-cutting – principally in marketing – to improve margins;
 
* The company, which is constrained in its marketing activity by government policy, continues to be out-marketed by competitors, who are dominating the sector in terms of advertising.