Sweden’s gambling industry has reported a slight increase of 0.5% in the third quarter of 2025 compared to the same period in 2024, with total revenue reaching SEK6.71 billion (approximately $709 million). This uptick is primarily attributed to the growth in the online gaming sector, according to the gambling regulator Spelinspektionen. The regulator has recently announced plans to oversee Svenska Spel’s physical operations and has banned mystery box operator CGG Entertainment earlier this month.
While online gambling has been on the rise, traditional gambling forms have seen a decline. Online gambling generated SEK4.51 billion ($477 million), marking a 3.5% increase year-on-year. This growth in online gaming comes despite the absence of major sports events such as Euro 2024 and the 2024 Paris Olympics, which had been significant revenue drivers in previous years.
Conversely, revenue from Svenska Spel’s state lottery and slot machines witnessed a drop of 7.2%, settling at SEK1.26 billion ($133 million). Meanwhile, other lotteries aimed at public benefit saw a slight rise, reaching SEK822 million ($87 million). Bingo revenue remained stable at SEK48 million ($5 million), and commercial land-based gaming, including restaurant casinos, contributed SEK67 million ($7 million), reflecting a 3.1% increase. This, however, is overshadowed by the complete absence of land-based casino revenue, following the closure of the last Casino Cosmopol in April.
In a quarter-to-quarter comparison, the total revenue this quarter fell by 4.4% from the previous one, ending at SEK7.02 billion ($742 million).
Svenska Spel itself showed resilience with net gaming revenue hitting SEK1.87 billion ($115 million) for the quarter ending September 30, 2025, representing a 7% increase from the corresponding quarter last year. The primary contributors to this growth were the Tur lottery and the Sport & Casino divisions, which effectively counterbalanced declines seen in their Vegas gaming machines and the closure impact of its last land-based casino.
These financial results come at a time when Sweden is gearing up to impose a broader ban on gambling with credit, set to take effect on April 1, 2026. The proposed regulations will prevent licensed operators and gambling agents from facilitating transactions involving any form of credit, including loans or bank overdrafts intended for gambling purposes. The aim is to curb irresponsible gambling behaviors by eliminating the possibility of wagering with borrowed money.
Licensed operators and agents will be tasked with implementing proactive measures to block credit card payments and remove any promotions from third-party lenders. While these restrictions are expected to tighten the industry, there might be exceptions, particularly for operators conducting gambling for public benefit, such as charity lotteries.
In February, the Swedish government announced its intention to revisit the Gambling Act following the financial review of the industry’s 2024 performance. This move suggests a careful balancing act between fostering industry growth and implementing responsible gambling practices.
While the online sector’s growth is promising, some industry analysts express concerns about the overall economic impact of the upcoming credit gambling ban. Critics argue that this could lead to unintended consequences, such as players turning to unregulated markets where credit use is less restricted. They maintain that while the intent is to protect consumers, the execution must be carefully managed to avoid driving gambling underground.
On the other hand, proponents of the ban argue that it is a necessary step to promote safer gambling habits and to protect individuals from the pitfalls of accumulating gambling debts. “It’s essential that we prioritize the well-being of players while ensuring the sustainability of the gaming sector,” is a sentiment echoed by many in favor of the reform.
As the debate continues, the Swedish gambling industry finds itself navigating a complex landscape, where technological advancements and regulatory changes intersect. The industry’s future will likely hinge on its ability to adapt to these evolving conditions while maintaining a balance between growth and responsibility.
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