In Q3 2025, Sweden’s leading operators, Svenska Spel and ATG, both delivered higher profits and revenue, proving that digital precision and sound regulation can steady an industry in transition.
You can see the Swedish gambling sector adjusting to a more sustainable rhythm. Both operators reported strong online performance while keeping costs under control, confirming how a clear regulatory framework can support progress even as the country’s land-based footprint shrinks.
Online Growth Confirms Sweden’s Steady Hand
Svenska Spel recorded SEK 1.87 billion (USD 197.89 million) in net gaming revenue for the quarter, a 7 percent lift on last year, helped by strong Eurojackpot sales and a solid performance from Oddset. Lottery brought in SEK 1.31 billion (USD 138.63 million), while the Sport & Casino division added another SEK 489 million (USD 51.75 million) after a 9 percent improvement.
Online gaming now makes up around 65 percent of Svenska Spel’s total revenue, up from 60 percent in 2024. Operating profit reached SEK 718 million (USD 76 million), with net profit at SEK 584 million (USD 61.80 million), both notably higher than a year ago.
ATG’s quarter was steadier but still encouraging. The group reported SEK 1.30 billion (USD 137.57 million) in net gaming revenue, slightly above last year, with SEK 958 million (USD 101.38 million) from horse racing and SEK 171 million (USD 18.10 million) from sports. Careful spending helped lift operating profit 9 percent to SEK 434 million (USD 45.93 million), a solid return in a market that remains highly competitive.
This continued push toward digital channels matches a wider transformation within Swedish gambling. A detailed overview of the best online casinos in Sweden and the country’s legal framework for 2025 illustrates how the country regulates every aspect of the market: from player safety to payout transparency. The guide compares ten licensed operators such as LeoVegas, Casumo and Mr Green, rating them on bonuses, licensing and mobile performance. It also explains how Sweden’s Gaming Act and Spelinspektionen’s 2025 compliance standards protect you through tools like Spelpaus and verified licensing seals, giving you a clear view of how the regulated environment operates in practice.
Why Lottery and Sports Betting Still Anchor Sweden’s Market
Svenska Spel’s Tur lottery remains its strongest asset. Eurojackpot rollovers and a refreshed Lotto launch in September produced record sales weeks and major prize payouts, including Sweden’s third-largest jackpot of SEK 409 million (USD 43.28 million).
You can trace a similar pattern in sports betting. The Oddset brand gained traction from early-season ice hockey and domestic football, driving higher engagement and repeat play. ATG mirrored this trend across horse and sports betting, with CEO Hasse Lord Skarplöth crediting an efficient allocation of resources rather than higher marketing spend.
The reality is that digitalization now sits at the center of how you follow, play and manage gaming operations across Scandinavia. As shown in recent reports in the online gaming section, the same movement is visible across the continent, where mobile play and compliance technology continue to define regulated markets.
The Last Casino Cosmopol and the New Cost Equation
The closure of Casino Cosmopol Stockholm in April ended the state’s land-based casino era, a milestone that also lowered costs. With fewer staff and property expenses, Svenska Spel’s operating margin improved from 35 to 38 percent.
ATG’s retail turnover fell 8 percent to SEK 109 million (USD 11.53 million), showing how few Swedes now walk into betting shops. Both companies are redirecting that money into mobile upgrades and safer gambling tools. You can see why: most play now happens on phones, and the real challenge is not cutting expenses but keeping the digital experience secure and responsible. The strategy feels pragmatic rather than defensive; it reflects the kind of steady adjustment you expect from operators that know their market well.
Economic Crosswinds and Fiscal Planning
If you look at the OECD Economic Survey of Sweden 2025, the picture is mixed. Sweden’s recovery remains fragile after two years of slow growth, with household debt and cautious consumer spending shaping daily life. Despite this, gambling continues to deliver predictable tax revenue and stable employment, a rare constant in an uncertain economy.
The 18 percent gambling levy is still under review, though any change is likely to be cautious rather than sweeping. You can almost sense the balancing act: keeping operators competitive while avoiding extra pressure on players or the public purse. Svenska Spel’s continued support for sport and research, now worth more than SEK 100 million (USD 10.58 million), fits that same mindset. It shows how Swedish gambling policy still leans toward steadiness over speed.
How the Nordic Connection Fuels Innovation
Regional links are also part of the story. As the BBC’s report on the Öresund Bridge’s 25-year impact explains, closer ties between Malmö and Copenhagen have deepened cooperation in technology, finance and entertainment. You can already see the benefits in Sweden’s gaming sector, where cross-border investment and shared talent have supported faster innovation and more agile digital operations.
Discipline Over Drama: Sweden’s Path Forward
The third-quarter results tell a clear story: online strength, operational discipline and regulatory consistency are keeping Sweden’s gambling industry balanced through economic uncertainty. Svenska Spel now earns about two-thirds of its revenue online, while ATG’s tighter margins show that discipline still pays off.