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Svenska Spel's Annual Report 2018

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Svenska Spel's Annual Report 2018 Svenska Spel’s Annual Report 2018 All of Sweden’s gaming company 4.5 8,361 SEK 4.5 billion sports associations all over to the public treasury Sweden shared SEK 50 million through Gräsroten 12.2 SEK 12.2 billion in winnings to customers 2.1 all over Sweden million customers 31.5 SEK 31.5 million in grants to strengthen Swedish gambling addiction research “We are all of Sweden’s gaming company.” 6,566 1,678 s employees in the retailers and partner Svenska Spel Group throughout Sweden 26 Svenska Spel’s operations 14 The Swedish gaming market 42 Sustainable business Contents Business description and Financial information and governance 80 Cash-flow statement sustainability report 51 Contents and List of Notes 80 Statement of changes in equity 04 About Svenska Spel 52 Directors’ Report Parent Company 06 Review of 2018 56 Group’s financial position and 81 Income statement 08 Value creation results 82 Balance sheet 10 CEO’s commentary 58 Facts about Svenska Spel’s 84 Cash-flow statement business areas 13 Interview with the Chairman 85 Statement of changes in equity 14 The Swedish gaming market 60 Risks and risk management 61 Proposed distribution of profits 20 Stakeholder dialogue 86 Notes 62 Svenska Spel’s mandate “We are all of Sweden’s gaming company.” 22 Strategy 106 Annual Report signatures 24 Goals and target fulfilment 63 Report on the Company’s measures under the shareholder 107 Auditor’s Report 26 Operations directive 110 Assurance Report 28 Sport & Casino 68 Corporate Governance Report 111 Five-year summary, the Group business area 72 Internal controls concerning 112 Alternative performance measures 30 Business area Tur financial reporting 32 Casino Cosmopol & Vegas 74 Board of Directors business area 113 About Svenska Spel’s 76 Management Sustainability Report Group 118 GRI Index 34 Responsible gaming 78 Consolidated statement of 38 Employees comprehensive income 121 Other terms 42 Sustainable business 79 Balance sheet 123 Calendar and contacts Svenska Spel Annual Report 2018 3 The most Swedish gaming company in the world Svenska Spel is not like other gaming companies. “We are all of Sweden’s gaming company.” We point the way in the new gaming market through gaming enjoyment, responsibility and security. We are needed more than ever. There are many gaming companies, but we are not like the At year-end, the Swedish gaming market opened up for others. regulated competition under Swedish supervision. That’s Svenska Spel is all of Sweden’s gaming company. We exist good. Now, the same rules apply for all who offer gaming in nationwide, we are characteristically Swedish in our view of Sweden. This strengthens the gaming market and benefits responsible gaming and consumer protection, and we are consumers. owned by the Swedish State. In this way, everyone shares in In connection with the re-regulation, Svenska Spel was our profits. We sponsor Swedish sports and make it possible divided into three parts. One part operates in the new com- for elite athletes to devote themselves to their sports and for petitive market for online gaming and betting, and another associations to offer activities for children and young people. has lotteries reserved for the State and purposes that benefit We have a long history. Penninglotteriet was formed in 1897 the public. The third part has casino games and video lottery and Tipstjänst in 1934. The two merged in 1997 to form Svenska terminals, which are still exclusively arranged and which have Spel. The same year that Tipstjänst was formed, Stryktipset was special requirements for reliability, responsibility and consid- launched – one of Sweden’s most popular game forms still eration for consumers. today. A lot has changed, but a lot is as it always has been. Stryktipset is gaming at its best. It adds feeling to sports Svenska Spel will remain a safe port in the gaming world, a viewing and makes the viewer a player – and occasionally, state-owned company that offers both gaming enjoyment and a winner. The cornerstones of our operations are the most responsibility, both profits and surplus to the public treasury. popular forms of games: Stryktipset, Lotto and Triss – the most The most Swedish gaming company in the world. Swedish of games at the most Swedish gaming company in We are Svenska Spel and we can be trusted. the world. 4 Svenska Spel Annual Report 2018 The most Swedish gaming company in the world Svenska Spel Annual Report 2018 5 New number games The launch of a simplified subscription service for Lotto and the launch of Rubbet, our number games in a new package. AB Svenska Spel was granted a license for games reserved for the State, lotter- ies and video lottery terminals. Svenska Spel Sport and Casino AB were granted Review of 2018 licenses for commercial online gaming Net gaming revenue amounted to SEK 8,784 million (8,980), and betting. Casino Cosmopol AB received a license for casino games down 2.2%. Net gaming revenue online grew 20%, of which and video lottery terminals in casinos. revenue from gaming via mobile phones rose 39%. The operating profit amounted to SEK 4,525 million (4,705), down 3.8%. The operating margin was 21.2% (21.8). Strong commitment Investments amounted to SEK 211 million (254) and refer mainly against match-fixing to new retailer terminals, office renovations and investments Svenska Spel has financed several ahead of the new gaming license market. information gatherings concerning match-fixing and responsible gaming for players, coaches and parents involved in football, handball, floorball and futsal. In total, some 1,500 people have received information. 70 51% 84 74 21.2% Customer satisfaction Image (50%) Awareness index (84) Work environment Operating margin (21.8) index (68) index (73) 6 Svenska Spel Annual Report 2018 Review of 2018 New CEO Patrik Hofbauer was appointed new President and CEO for Svenska Spel and took over on 1 December. Stronger customer Renewed support to sports A new six-year sponsorship agreement was signed with the Swedish Football Asso- interaction Roll-out of the new retailer terminals at ciation and Elitfotboll Dam (the Elite Football Association for Women) for a combined more than 2,200 retailers was completed value of SEK 385 million. A new three-year partnership agreement was entered with during the year. The aim was to renew and the Swedish Handball Federation and Svensk Elithandboll (the Swedish Elite Hand- strengthen in-store customer interaction. ball Association) valued at approximately SEK 36 million. In addition, a three-year agreement as head sponsor for Svenska E-sportföreningen (the Swedish esports Federation) was secured. Continued focus on research Live casino Svenska Spel extended agreements that An agreement was signed with guarantee continued financing of gambling Evolution Gaming for the delivery addiction research. The agreements run until of a complete live casino solution, 2022 and are worth SEK 31.5 million. SEK 7.5 mil- and with NetEnt and Yggdrasil for lion is earmarked for financing a professorship delivery of online casino games. in gambling addiction at Lund University. The Swedish Gambling Authority imposed a sanction charge of SEK 8 million for deficiencies in Casino Cosmopol’s preventive work against money laundering. Svenska Spel chose to appeal 258 the Swedish Gambling Authority’s decision. A clear action plan to improve systematic efforts to counter- million act money laundering is still top priority. Eurojackpot paid out SEK 258 million – the highest winnings ever in Sweden. New organisation as of 1 June 2018 One Group, three business areas Ahead of the re-regulated gaming mar- ket, Svenska Spel has modified the organ- isation and divided the gaming opera- tions into three different business areas that have separate gaming accounts and customer databases. Svenska Spel will continue to be a consolidated Group with Group-wide functions. The main reason for the division is to ensure com- pliance with the new gaming regulations Sport & Casino Business area Casino Cosmopol and the Competition Act. & Vegas Business area Tur Business area The Sport & Casino business area offers sports games, online casino, poker and bingo. The business area Tur includes number games and lottery tickets. Gaming at our four land-based casinos and video lottery terminals have been gathered under the Casino Cos- mopol & Vegas business area. Svenska Spel Annual Report 2018 7 Svenska Spel generates long-term value Based on external factors, trends in the gaming market and our stakeholders’ expectations, we generate value for customers, owners, employees and, not least, society in general. Svenska Spel is currently Sweden’s most well-known gaming land-based casinos or in physical stores through our nation- company. The business model focuses on fostering gaming wide network of retailers. enjoyment. By conscientiously working with our three per- Our most important contribution is to promote gaming spectives – customer, employee and owner – we create value enjoyment in a manner that reduces gaming’s harmful effects for our prioritised stakeholders but also for society in general. for the individual and society. Our comprehensive agenda With the market’s broadest range of games, we offer our for creating safe environments permeates everything from customers an exciting gaming experience via our three busi- our support to research to marketing and designing games. ness areas. Our cornerstones are the most popular game forms Coupled with the surplus that Svenska Spel delivers every such as Triss, Lotto and Stryktipset. The safe gaming experi- year to the public treasury, this helps limit gambling problems ence is also a central part of our offering. We aim to create a in society and thereby lowers the costs associated with these work environment that feels inspiring and stimulating for all problems.
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