Hans Lord Skarploth, CEO of Aktiebolaget Trav och Galopp (ATG), which is a Swedish state-owned gambling operator, presented a positive balance sheet for 2020. He reported the growth across all the directions, which led to both NGR and operating profit increase in the previous year. Login Casino follows the latest betting news, now describing the state gambling operator's financial results.
Being a former monopolist in the Swedish equestrian sector, now ATG is the multidirectional entertaining company that offers bookmaking options and casino games. That was the outcome of the Swedish legislation changes in 2019, which opened the market for foreign operators and allowed ATG to provide not only horse race betting but also other gambling activities.
Even though the year 2020 was pretty tough, the presented financial data is pretty positive for ATG. Skarploth reported that the net gaming revenue (NGR) of ATG amounted to $646M, which is a 21% increase compared to the previous year. The operational profit grew even more (by 49%) and amounted to about $269M.
The former activity of ATG echoes in the results of 2020. Thus, sports betting revenue grew by 51%, while the horse racing sector was also surprisingly positive at the level of a 19% raise. A comparatively new sector, online casino games, also showed a positive tendency and brought 20% more revenue in 2020.
ATG as the major supporter of the equestrian sector
One of the primary concerns related to the state-owned operator is its obligatory support of the equestrian sector. Being a state monopolist in this niche previously, ATG was the only official organization and betting operator for horse racing while giving a significant part of the revenues back to the industry. The gambling market opening has brought other bookmakers that provide bets on horse racing, but they don't feed up the industry from the received revenues.
Login Casino has already informed readers about the details of this discussion. The major concerns are related to the fewer finances that now are going for the support of equestrians. ATG calls to review the industry's feed-up approach and warns about possible negative outcomes if not.
Read more: Why do people like betting at horse racing?