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Sports Betting and Casino Games As of 1 January 2019

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Sports Betting and Casino Games As of 1 January 2019 THE ENGINE OF THE HORSE RACING INDUSTRY SINCE 1974 ANNUAL AND SUSTAINABILITY REPORT 2019 ANNUAL AND SUSTAINABILITY REPORT 2019 // ATG THE WORLD’S BEST GAMING EXPERIENCES OUR VISION expresses our continuous ambition and our objective. ANNUAL AND SUSTAINABILITY REPORT 2019 // ATG ANNUAL AND SUSTAINABILITY REPORT 2019 // ATG EXCITING, RESPONSIBLE AND SMOOTH GAMING EXPERIENCES OUR CUSTOMER PROMISE express the position we want to have in the gambling market. The business is­built­on­satisfied­customers,­long-standing­customer­relationships­and­a­healthy­horse­racing­industry.­ ANNUAL AND SUSTAINABILITY REPORT 2019 // ATG THE ENGINE OF THE HORSE RACING INDUSTRY AND THE GAMING INDUSTRY´S COMPASS OUR MISSION expresses our higher purpose. We want to contribute to a gaming market that­is­healthier­tomorrow­than­today.­Since­the­start­in­1974,­all­surpluses­have­been­ returned to the horses which contributes to jobs and open landscape. ANNUAL AND SUSTAINABILITY REPORT 2019 // ATG ANNUAL AND SUSTAINABILITY REPORT 2019 // ATG ANNUAL AND SUSTAINABILITY REPORT 2019 // ATG PROGRESSIVE RESPECTFUL OWNERSHIP OUR VALUES guide­how­we­act­towards­each­other­on­a­daily­basis.­By­being­ progressive,­respectful­to­each­other­and­assuming­clear­ownership,­we­will­ achieve our vision. ANNUAL AND SUSTAINABILITY REPORT 2019 // ATG 10 CONTENTS ANNUAL REPORT 2019 ATG summarises its first year in the re-regulated gambling market. 12 MESSAGE FROM THE CEO New market – infinite new opportunities. 2019 was the year ATG entered into a whole new world. 14 VALUE CREATION Join us on ATG’s exciting business trip: from our employees to Sweden’s horses. 12 28 OUR POPULAR BRANDS Entertainment with world-class experiences. Here are the brands that attract some 1.3 million customers. 30 A SUCCESSFUL YEAR With a clear course forward ATG has successfully achieved ambitious goals. CFO Lotta Nilsson Viitala 34 describes the accomplishments of 2019. 34 RAINING MILLIONS Record number of million krona-wins for V75® and V86® in 2019. Winner ambassador Hans G. Lindskog shares the 28 highlights. 38 TOP-CLASS IT ENVIRONMENT With the goal to become a world leader in innovative solutions, ATG continues to build world-class gamning experiences. 48 FOCUS ON SUSTAINABILITY Customer well-being is ATG’s most important sustain- ability topic. Consequently, the company works actively 30 to prevent problem gambling. 48 12 MESSAGE FROM THE CEO 14 VALUE CREATION 20 MARKET 26 OPERATIONS 40 SUSTAINABILITY 58 ADMINISTRATION REPORT 62 RISKS AND RISK MANAGEMENT 67 CORPORATE GOVERNANCE 74 BOARD AND GROUP MANAGEMENT 78 FINANCIAL STATEMENTS 87 ACCOUNTING POLICIES 96 NOTES 116 BOARD’S SIGNATURES 117 AUDITORS’ REPORT 120 SUSTAINABILITY REPORT 38 132 GRI CONTENT INDEX 136 DEFINITIONS ©2020 ATG® - Aktiebolaget Trav och Galopp. This publication is protected by the Copyright Act (1960:729). The Act covers the brands, text, photographs, drawings and pictures. Photographers: Magnus Östh, Erik Nylander, Olof Holdar and others. ANNUAL AND SUSTAINABILITY REPORT 2019 // ATG CONTENTS 11 ATG IN ONE MINUTE This Annual Report contains more than 130 pages. So, for those of you short on time – here’s a condensed version about ATG and our operations in 2019. SPORTS 1974 BETTING founding of ATG, tasked with safeguarding the long-term develop- ment of trotting and thoroughbred racing by offering responsible AND gambling. CASINO RECORD NUMBER GAMES Million-krona wins in 2019: 281 million-krona wins paid out for launched New Year’s Eve 2019. The launch V75® and V86®. of the new forms of gaming have exceeded expectations. “IT’S HEARTWARMING!” 87 % Hans G. Lindskog, ATG’s winner ambassador, after calling to of ATG’s customers rank as congratulate a mother of young children who had bet SEK 24 “green customers”. and won SEK 2.2 million. 7 % RECORD-BREAKING improvement in net gambling revenue in 2019. YEAR In 2019, net turnover amounted to MSEK 4,435. 1.3 MILLION customers have bet at ATG in 2019. 96 % of ATG’s employees are familiar with the company’s vision and values. ANNUAL AND SUSTAINABILITY REPORT 2019 // ATG 12 MESSAGE FROM THE CEO A SUCCESSFUL YEAR OVERSHADOWED BY A PANDEMIC “1 January 2019 was a milestone in ATG’s 45-year history. For the first time ever, we could offer our customers horse betting AND sports betting AND online casino games". That’s how this message from the CEO was supposed to open. But then the Coronavirus pandemic hit. When this is being written mid-March, we have just decided BIGGEST IN THE MARKET that those Stockholm-based employees who can, should When we now summarise the year, we note that ATG has had work from home. What future effects the Coronavirus will a record-breaking year in so many ways. Never before have we have on us all, our society and ATG is presently impossible recorded such high net income, MSEK 4,435. to oversee. We take things day by day and modify our oper- We have seen a steady stream of customers wanting to reg- ations according to instructions from government author- ister (an average of 6,000 customers each week). In total, we ities. When you read this, the situation has in all likelihood had just over 1.3 million registered customers. changed. Hopefully, in the right direction. We were the largest gambling company in the commercial It is incredibly difficult to say much more than that at this licensed market. We captured market shares throughout 2019, time. So, back to the main reason why you are reading this – despite a 13 per cent dip in the commercial licensed market. We here are my thoughts about 2019. estimate that ATG held 32 per cent of the market, or more than A few seconds after midnight, the first sports bet was twice that of our closest competitor. placed at ATG. A customer bet SEK 145 that Buffalo would We advanced from a market share of zero per cent in sports beat the New York Islanders in the NHL at the odds of just betting and casino games to 7 per cent (sports betting) and 5 over two times the wager (unfortunately for the customer, per cent (casino games). the Islanders won.) Meanwhile, we opened our online casino where our customers could play Roulette and Blackjack with FINANCING HORSE RACING Swedish-speaking croupiers. On New Year’s Day morning, And most importantly of all – ATG’s task is to safeguard thousands of customers in some 2,000 ATG stores nation- long-term financial resources for trotting and thoroughbred wide were greeted with the opportunity to bet on the racing by offering responsible gambling. The financing model is afternoon’s Premier League matches. fundamentally changed after re-regulation and now, ATG has costs for the acquisition of data and rights that are a prereq- ENERGY THROUGHOUT ALL OF 2019 uisite for horse betting. Additionally, ATG finances the owners Every single employee at ATG had long been a part of the through loans that, whenever possible, are set off against the process when we entered into a whole new world. allocation of profits. The rights, loans and Group contribution Of course, there are a number of factors that explain amounted to MSEK 2,180 to our owners the Swedish Trotting why ATG has enjoyed strong growth in its first year in the Association and the Swedish Jockey Club. commercial licensed market. But the underlying symbolism Because of the re-regulation, ATG’s profit is not comparable that we were prepped and ready to meet our customers at with previous years or that of our competitors. Therefore, we the exact moment the new gambling market started was, have drafted a new earnings measure – ATG’s profit before I believe, incredibly important. The positive feedback from transactions with the owners (refer to page 13) – that allows our customers was instantaneous, which fuelled our efforts for a comparison from both perspectives. Some of the major to deliver exciting, responsible and smooth gaming experi- factors that have influenced the outcome between 2018 and ences. 2019 include a declining turnover in horse betting, costs for new betting areas and lower tax on gambling. ANNUAL AND SUSTAINABILITY REPORT 2019 // ATG MESSAGE FROM THE CEO 13 GOOD START IN DENMARK and to enjoy their betting. And good for ATG, since customers In April, Ecosys became a wholly owned subsidiary and, while who have control over their gambling will hopefully become the company is still a minor player in the Danish gambling mar- long-standing customers of ours. ket, the company generated MSEK 89 in net gambling revenue In addition to the regulatory requirements, ATG has intro- between April and December. duced additional responsible gambling measures. Ahead of The Danish gambling market will see an increase in gambling 2019, we made an active choice not to market our online casino tax in 2021 which may have an impact on the company’s per- on TV, radio and billboards. That decision makes us unique. Our formance. There are also some misgivings that the tax increase responsible gambling work is a moving target where we work will yield high channelization in Denmark and that several com- side by side with some the world’s leading researchers in the panies will move their operations out of the country. Nonethe- field. Daily, we acquire new wisdom and insight into how we can less, we are positive that Ecosys will report growth. improve our responsible gambling. In conjunction with our second interim report, we started BETTING ON HORSES RECOVERED reporting on “green customers” and “green turnover” (you ATG is, and will remain, a horse betting company. Therefore, it was can read more about this on page 49). It is my hope that we challenging when betting on horses dropped 7 per cent during the eventually have an industry-wide standard for measuring our year.
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