ATG revenue falls in first half
The Swedish operator says it remains confident that revenue will recover.
Sweden- The Swedish betting operator AB Trav och Galopp (ATG) has reported revenue of SEK 2.59bn (€245m) for the first half. That’s a drop of 2 per cent year-on-year. Meanwhile, operating profit was down by 14 per cent from SEK 917m (€86m) to SEK 805m (€76.1m).
Second quarter revenue was SEK 1.3m, down from SEK 1.4bn in Q2 2021. However, ATG noted that while down year-on-year, it was still its second-best first half on record. It noted that it was seeing “increased competition from other amusements” but remained confident that it would return to growth.
CEO Hasse Lord Skarplöth said: “Just like the first quarter, the second quarter’s comparative figures are affected by Covid-19 effects, which is why a comparison with the first half of last year is not really a relevant summary of ATG’s development in the past year.
“Having said that, in a longer historical perspective, and amid the ongoing unrest in the world around us, ATG did well through the beginning of 2022. Looking at the period January-June, the net gaming revenues are the second highest in the company’s history.”
While ATG now offers other verticals following the liberalisation of gaming in Sweden, horse racing betting remains its biggest source of revenue by far, accounting for 82 per cent of revenue in Q2, while other sports betting contributed 11 per cent and casino gaming just 7 per cent
However, betting on horse racing declined by 6 per cent in the first half to SEK 2bn (€189m). Other sport betting revenue rose by 3 per cent to SEK 328m, and Lord Skarplöth note that ATG continued to gain market share.
He said: “Going forward, ATG will continue to work towards clearly formulated goals and customer promises. This means continued work with the constant development of, and investments in, gaming products for continued growth and cost-effectiveness.
“This is to continue delivering good results and thus live up to our task and mission of being the horse industry’s engine and the gaming industry’s compass.”
Earlier this week, Sweden’s Svenska Spel, the state-owned lottery and gaming operator, announced that it has assigned SEK42m (€4m) in funds for problem gambling research. It will spend SEK8.5m per year over the next five years, with SEK25m going to research grants.
Last month, Svenska Spel reported that its Q2 revenue was up by 1 per cent year-on-year from SEK 1,938m to SEK 1,963m (€186.5m). However, operating profit fell by 4 per cent to SEK 1,127m (€106.8m).
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