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DATE: May 26 2012
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Poker.co.uk - Poker News Archive

Wednesday 25th April 2007

Svenska Spells Success for Swedish Online Casino Market

Swedish state-owned gambling monopoly Svenska Spel, operator of over 20 different online betting games, has announced that its first quarter profits have risen by 22 percent to �157 million, compared to the same period last year. The company�s net revenue upsurged by 12 percent, to �260.3 million for the quarter.

Svenska Spel�s expansion into the online poker market last March has been at the helm of the company�s success, helping to bolster profits after losses in their land-based operations.

Svenska Spel CEO Jesper Karrbrink, commented: �We are happy to have now regained some of the previously lost market share. Being able to deliver such a good result in the face of fierce competition, while at the same time being a world leader in socially responsible gaming is very satisfying.�

�The poker license shows how important it is to have a modern licensing system which enables us to continue providing gaming services to those that want it, in a safe and responsible environment.�

Source: OnlineCasinoNews

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