Part 2: The current online market
Table 6: Jackpotjoy Sweden revenues |
|
2016 |
2017 |
Total gaming revenues(£ m) |
266.9 |
304.6 |
% Sweden |
10 |
10 |
Total Sweden(£ m) |
26.7 |
30.5 |
SEKm |
|
366 |
Est. Swedish market share(%) |
|
6.5 |
Hero Gaming Another organisation leading the Nordic innovation wave, Hero Gaming runs the lauded Casino Heroes site as well as the betting proposition Betser. Again, it is likely the two sites have grabbed a slice of the Swedish overall market but without knowing anything further, the company also remains in the‘ others’ category.
Source: Company reports, Market Monitor Swedish market estimates
Cherry Gaming Recent controversies surrounding the ex-chief executive Anders Holmgren notwithstanding, since the acquisition of ComeOn Cherry Gaming has taken on a greater prominence within the Nordic online gambling scene. Its recently published full year results showed online gaming revenues for 2017 of SEK1.82bn. But without any breakdown by region, it is hard to guesstimate what either the Nordic or Swedish element of those revenues are worth. All that can be stated is that the full acquisition of ComeOn has certainly worked to transform the company’ s market positioning in terms of GGR.
Gaming Innovation Group( GIG) GIG is one of the newcomers on the Nordic scene with seven brands contesting in the space, including Guts. com, Rizk and the old Betit brands of Thrills and Superlenny. As can be seen from our table below, GIG has grown very quickly to take an estimated 4.5 % slice of the overall Swedish market.
Other notable names Casumo The site has been around since 2012 and is oft cited as being one of the leaders in gaming innovation in the Nordic gaming space. We can assume it has a decent position in the Swedish market though for now it has to remain in the‘ others’ column as there is no visibility on earnings.
Aspire Global The company behind Karamba and other sites( including joint ventures), Aspire is listed on the Nasdaq First North Premier and gives B2C revenues(€ 34.8m in 2017) but no further detail. It also straddles both B2C and B2B.
Bethard This new company has made something of a splash in recent months having hired Zlatan Ibrahimovic as a brand ambassador( and minority shareholder) and
Chart 2: Sweden online market estimates 2017
Source: Company reports, Clear Concise estimates
Svenska Spel 16 %
Kindred 21 %
Betsson 14 %
LeoVegas 12 %
Jackpotjoy 6 %
GIG 4 %
Mr Green 2 %
Others 25 %
14 Sweden: The transition to regulation in one of Europe’ s most advanced digital markets