Sweden’s former horse racing monopoly ATG said net gaming revenue was broadly level year-on-year during the first three quarters of its 2022 financial year, despite the impact of global economic challenges.
Total revenue for the nine months through to the end of September amounted to SEK3.9bn (£305.9m/€352.6m/$346.9m), a decrease of less than 1% on the same period last year.
ATG said that while the effects of the pandemic had continued to die down during the nine months, the business now faces wider challenges in the impact of the war in Ukraine and also global economic issues due to high inflation and the potential for an impending recession.
Chief financial officer Lotta Nilsson Viitala said it was difficult to estimate how much both of these factors would hit ATG, but admitted that the business would be impacted.
“We see tendencies towards our customers having less money left in the entertainment wallet,” Viitala said. “It is completely natural with the price increases and inte..