Betting Giant Says Swedish Market Not Big Enough for ‘70 of Us’
- CEO expects 5-10 players to dominate Swedish gambling market
- State-owned company is expanding new online casino offering
This article is for subscribers only.
Sweden’s AB Svenska Spel expects a wave of consolidation in the nation’s gambling industry as the $2.5 billion market adjusts to new regulations and the state-owned casino operator moves more offerings online.
Patrik Hofbauer, chief executive officer of the gambling giant which competes with listed firms including Kindred Group Plc, LeoVegas AB and Betsson AB, expects that only some 5 to 10 of the about 70 companies granted licenses under the new regulations this year will prevail.