ATG records Q1 revenue increase but deposit cap hits casino earnings

Swedish former horse racing monopoly Aktiebolaget Trav och Galopp (ATG) has recorded Q1 revenue of SEK1.46bn (£125.3m/€144.2m/$174.2m) – 11.0% more than last year.
Of this total, SEK1.27bn came from net gaming revenue, while agent revenue contributed a further SEK64m. The remainder was classed as other revenue.

The Swedish market continued to represent almost all of ATG’s revenue: SEK1.04bn came from its traditional revenue stream of Sweden’s horse racing market, and SEK129m came from sports betting in Sweden.

A further SEK60m was the result of casino gaming – a 23.1% drop from the SEK78m posted this time last year. The operator said this was due in large part to the deposit cap imposed in Swedish online casino games from mid-2020. This cap now appears set to be extended until November 2021.

The Danish market contributed SEK42m to the gaming revenue, representing a SEK10m increase from last year.

After paying SEK253m in gambling tax, SEK116m worth of personnel costs and SEK604m ..

Swedish former horse racing monopoly Aktiebolaget Trav och Galopp (ATG) has recorded Q1 revenue of SEK1.46bn (£125.3m/€144.2m/$174.2m) – 11.0% more than last year.

Of this total, SEK1.27bn came from net gaming revenue, while agent revenue contributed a further SEK64m. The remainder was classed as other revenue.

The Swedish market continued to represent almost all of ATG’s revenue: SEK1.04bn came from its traditional revenue stream of Sweden’s horse racing market, and SEK129m came from sports betting in Sweden.

A further SEK60m was the result of casino gaming – a 23.1% drop from the SEK78m posted this time last year. The operator said this was due in large part to the deposit cap imposed in Swedish online casino games from mid-2020. This cap now appears set to be extended until November 2021.

The Danish market contributed SEK42m to the gaming revenue, representing a SEK10m increase from last year.

After paying SEK253m in gambling tax, SEK116m worth of personnel costs and SEK604m of other expenses, ATG posted an operating profit of SEK435m – 21.1% more than 2020.

The operating margin of 30% is also an increase on 2020’s 26%.

After deducting SEK19m worth of income tax, the operator posted final profits of SEK416m, up 27.2% from Q1 of 2020.

ATG CEO Hasse Lord Skarplöth said: “Now that we’re entering the second quarter, there’s a big probability of seeing a trend break regarding ATG’s percentage growth in comparison with last year.

A big thank you to all the employees who despite the stressful time we have lived and live in continue to have full focus on an exciting gaming experience in a neat and flexible way for everyone of our customers.”

Original Article

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