ATG Reports 18.3% Revenue Growth for Q3 2020
AB Trav och Galopp (ATG) has reported year-on-year growth in revenue of 18.3% to SEK1.38bn (€133.3m) for Q3 2020. The revenue growth comes despite the impact of Sweden’s new online casino spending limits on that side of its business.
Most of the growth came from horse racing betting and other sports betting. Horse racing betting revenue rose 17% against the same quarter last year to reach SEK1.19bn, making up 88% of all revenue. Sports betting revenue rose 59% to SEK113m while casino revenue fell 6% to SEK78m.
The imposition of the temporary SEK5000 weekly deposit cap caused its Swedish casino revenue to fall to SEK58m.
“During the third quarter, we saw a clear slowdown in casino gambling in Sweden. This is a consequence of the temporary regulation, which means our casino customers must set a mandatory deposit limit per week,” Lotta Nilsson Viitala, Chief financial officer of ATG, said.