Sweden’s gambling revenue up 2.65% to $2.62 billion in 2024, driven by online sector

Sweden reported a 2.65% increase in gambling revenue for 2024, reaching SEK27.85 billion ($2.62 billion), according to data from Spelinspektionen, the Swedish Gambling Authority.

Online gambling remained the dominant sector, generating SEK17.84 billion ($1.68 billion) in revenue, marking a 5% increase from the previous year.

State lotteries and slot machines also saw growth, with revenue climbing 2.2% to SEK5.72 billion ($538.27 million), while non-profit games and national lotteries reported a 2.6% rise to SEK3.70 billion ($348.84 million).

Meanwhile, land-based commercial gaming, including restaurant casinos, grew 4% to SEK237 million ($22.28 million). However, community games and hall bingo declined by 3.5% to SEK196 million ($18.43 million).

A significant decline was recorded in the Casino Cosmopol sector following the closure of multiple land-based venues in early 2024. Revenue plummeted 66.3% to SEK160 million ($15.04 million) as a result.

The fourth quarter of 2024 was the most profitable period, with total gambling revenue reaching SEK7.61 billion ($715.44 million), a 7.6% increase from the previous year and 14.3% higher than Q3.

Online gambling brought in SEK4.63 billion, up 6.2%, while state lotteries and slot machines jumped 18.5% to SEK1.71 billion. Non-profit games and national lotteries rose 5.2% to SEK1.13 billion. Land-based commercial gaming increased 8.6% to SEK64 million, and community games and hall bingo held steady at SEK50 million.

Casino Cosmopol, however, continued to struggle, with revenue plunging 66.3% to SEK31 million due to location closures.

In May 2024, the Swedish government proposed shutting down Casino Cosmopol entirely, which would require the last remaining casino in Stockholm to close by 1 January 2026.

The proposal has faced criticism from Spelinspektionen, which warned that shutting down regulated land-based casinos could drive players toward illegal gambling operations.