Sweden's gambling regulatory authority Spelinspektionen has released the industry data for the second quarter of 2025. Despite a significant decline in revenue due to the complete shutdown of the state-owned casino Casino Cosmopol, the overall regulated gambling market still recorded growth.
Data shows that the turnover of Sweden's regulated gambling in the second quarter reached SEK 7.02 billion (approximately USD 740 million), up 5.9% from SEK 6.63 billion in the first quarter and 1.9% from SEK 6.89 billion in the same period last year.
Among them, online casinos and sports betting remain the largest segments, with revenues reaching SEK 4.63 billion, a year-on-year increase of 1.4%. National lotteries and automatic teller machine games also performed strongly, recording SEK 1.42 billion, up 10.2% year-on-year.
In contrast, Casino Cosmopol's performance plummeted. With the closure of the last branch, its state-owned casino business turnover dropped from SEK 33 million to SEK 8 million. Meanwhile, revenue from charitable lotteries and related games also saw a significant decline, from SEK 893 million to SEK 846 million.
In terms of offline games, the turnover of hall bingo remained level with last year. Other commercial gambling activities outside of casinos saw a slight increase, from SEK 57 million to SEK 63 million, somewhat compensating for the loss in casino revenue.
It is worth noting that this quarter also saw personnel changes. Spelinspektionen's director Camilla Rosenberg officially stepped down after eight years in office, moving to a new position at the National Property Board.
This financial data is also related to the channelization rate (i.e., the proportion of gambling participation through licensed operators). Spelinspektionen's latest report shows that the national channelization rate is 85%, still below the regulatory target of 90%. Among them, the channelization rate of online casinos is the lowest, only between 72% and 82%, which is considered the main reason for not meeting the overall target.
This situation has sparked controversy within the industry. In response to the government's upcoming investigation, the Swedish Online Gambling Trade Association pointed out that current measures are insufficient to improve the channelization rate, and if regulatory policies continue to tighten, it may further weaken the competitiveness of the regulated market.
Overall, the Swedish gambling industry continues to maintain moderate growth against the backdrop of the casino business exiting the stage. However, how to address the issue of insufficient channelization will be a core challenge that regulators and the industry must face next.
