ATG posted marginal growth in Q1, with casino gains offsetting declines in sports betting and flat performance in its core horse racing segment.
For the three months to 31 March, total revenue amounted to €128.3 million (SEK1.38 billion), only a 1% increase from the same period last year.
The main source of growth was from Casino operations, where total revenue increased by 20 per cent, reaching SEK172 million, resulting in Casino making up 11% of the total revenue of SEK1.57 billion in the previous 12-month period.
In contrast, Sports betting revenues decreased by 11%, reducing the proportion of Sports betting revenues from 16% of total revenues (SEK176 million), and resulting from poor sporting outcomes. The proportion of Horse racing to total revenue remained stable, decreasing in revenues by 1% to 75% of total revenues.
Though the revenues did not grow significantly overall, there was an increase in profit margins. Total operating profits rose by 22% to SEK326 million. Total net profits increased 24% to SEK317 million.
Acting CEO Jörgen Forsberg, said:
Casino is the area that is delivering growth in our business at the beginning of the year. Overall, net gaming revenue for the group is on par with the corresponding period last year, as development differs between our product areas.
Forsberg acknowledged weaker sports betting performance but stressed ongoing development need.
He also reaffirmed the strategic importance of horse racing, calling it the foundation of the business despite stagnation, and describing ATG’s role as supporting Swedish trotting and galloping sports while maintaining stable operations.
