(AsiaGameHub) – ATG recorded slight growth during the first quarter, as increases in the casino sector balanced out drops in sports betting and stagnant results in its primary horse racing division.
In the quarter ending March 31, overall revenue reached €128.3 million (SEK1.38 billion), representing a modest 1% rise compared to the prior year.
Casino operations were the primary driver of expansion, with total revenue climbing 20% to SEK172 million. Consequently, the Casino segment accounted for 11% of the group’s total revenue of SEK1.57 billion over the preceding 12 months.
Conversely, revenue from Sports betting fell by 11%, lowering its share of total revenue from 16% (SEK176 million), a decline attributed to unfavorable sports results. Meanwhile, the Horse racing segment’s share of total revenue held steady at 75%, despite a 1% dip in actual revenue.
While overall revenue growth was limited, profit margins improved. Total operating profit surged by 22% to SEK326 million, and total net profit grew by 24% to SEK317 million.
Acting CEO Jörgen Forsberg commented:
At the start of the year, our Casino division is the one generating growth. On the whole, the group’s net gaming revenue is consistent with the same time last year, as performance varies across our different product segments.
Forsberg recognized the underperformance in sports betting but emphasized the necessity for continued development.
He also underscored the strategic value of horse racing, labeling it the business’s foundation despite the current stagnation. He characterized ATG’s mission as sustaining Swedish trotting and galloping sports while ensuring operational stability.
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