License: Pexels, Free to use, Author: Pixabay
Former Swedish horse racing monopoly, Aktiebolaget Trav och Galopp (ATG), has reported a net gaming revenue of SEK1.19bn (£92m/€104.9m/$115.3m) for the first quarter of 2023.
This represents a 5.9% decline from ATG’s performance in Q1 2022. The total revenue for the period, taking into account agency income and other incomes, was SEK1.37bn, down by 6.1%. Hasse Lord Skarplöth, CEO of ATG, stated that the first quarter of 2023 was influenced by a "troubled environment," including the cost of living crisis, inflation, and high-interest rates.
While horse racing and sports betting saw improvement, there was a decrease in revenue for horse racing. Sports and casino games, on the other hand, saw continued growth of 10% and 20%, respectively. Despite the decrease in revenue for horse racing, ATG retains its market share in horse gambling.