Nordic iGaming market overview
For many years, online casinos and betting sites rose up in Scandinavia. Just last year, the industry generated several billion euros. Although Sweden’s share of net sales is high, the other Nordic countries have also done well. However, despite the fact that they are all Scandinavian countries, the different markets look largely different.
Swedish
The Swedish market continues to be a pioneer in the European iGaming industry, and currently one of the largest players. Many of the current largest casino operators, suppliers and payment service providers have all been established in Sweden because they managed to adapt to market developments at an early stage.
Swedish listed companies have been rising for a very long time, although this has changed recently. The value of companies such as Betsson, LeoVegas and Kindred Group has declined over the past year. There are many factors that contribute to the cause of this decline.
Spelinspektionen, The Swedish gambling authority, has introduced a number of new regulations, which has led to a less attractive market for many gaming operators. This includes license fees, marketing restrictions, compliance fees and more.
Other Swedish listed companies, such as well-known game provider Evolution Gaming, have seen growth in the stock market instead. This is because their game is available in several markets, so they are not affected in the same way by strict regulations.
Finland
Finland is not too far behind the Swedish iGaming market, another major player in the European market and the Nordic iGaming industry. Finns have spent an average of more than 2 billion euros on online gambling during the year.
In addition to this, we have seen various trends among Finnish players. Term ‘no casino‘, has been on the rise in recent years. This reveals that players in Finland are looking for new and innovative ways to play online. No account casino has also improved market access for Finns, which has increased business and the stock market.
The Finnish iGaming industry is also a significant factor in the payment of state taxes, which has led to less stringent regulation, as it benefits the country and its citizens.
Denmark
Unlike Sweden (which had a state gambling monopoly until January 2019), Denmark dropped its state monopoly as early as 2010. This led to less restrictive regulations and allowed the iGaming market to grow and develop further.
The Danish iGaming market is better known for betting, which currently accounts for the majority of revenue. The introduction of mobile betting increased the availability of iGaming and increased the growth of betting.
In 2019, income from sports betting was EUR 340 million. In contrast, online casinos could not keep up with betting, landing a revenue share of € 310 million over the same period.
Listed companies iGaming
Despite the recent downturn in the stock market, listed companies in the iGaming industry are doing incredibly well.
Betsson
Betsson AB has been in the gaming industry for over 50 years, although the website Betsson was founded in 2001. They are one of the largest listed companies in Sweden and are currently headquartered in Malta.
Betsson owns several successful brands in the Swedish casino market. Some of Betsson’s many major online casino brands are Betsafe, Rizk, Guts, Thrills. They have also done well with some of their latest additions like Casino Winner and Jalla! Casino.
Last year’s turnover: approximately EUR 510 million (EUR)
LeoVegas
LeoVegas is another major Swedish listed company founded in 2011 by Gustaf Hagman and Robin Ramm-Ercison. Although headquartered in Stockholm, the brand is also owned by LeoVegas Gaming Limited in Malta.
LeoVegas owns several well-known casino brands, and many Swedish players are familiar with GoGo Casino and of course LeoVegas Casino. Finnish players have no strangers to their popular Live Casino brand.
Last year’s turnover: about 370 million (EUR)
Kinship group
Kindred started as a Unibet in 1997. It was founded by Anders Ström, a Swedish man living in the United Kingdom. Unibet grew steadily and eventually became the Kindred Group before launching several new markets around the world.
Kindred hosts some of the most popular brands in the casino market in the world, and some of the most notable are iGame, Maria Casino, Unibet and the Swedish casino Storspelare, known as Norwegian Storspiller, which is made with high-roll players. in view.
Last year’s turnover: Approximately EUR 990 million (EUR)
In summary, the Nordic iGaming market is still booming today despite a few bumps on the road. Stock prices are expected to rise next year, although it may still be too early to tell.
HT
Source: The Nordic Page