Hasse Lord Skarplöth, chief executive of Swedish horse racing monopoly AB Trav och Galopp (ATG), has urged the government to drop its gambling tax for betting, following disappointing results in 2024.
Looking to how ATG performed in 2024, revenue for the 12 months to 31 December 2024 amounted to SEK6.19 billion (£459 million/€551 million/$577 million). This is 2.5% above the previous year. Net gaming revenue was largely flat, up 1.7% to SEK5.36 billion.
Revenue growth was enough to push operating profit up 1.4% to SEK1.81 billion for the 12-month period. After also including financial items, pre-tax profit topped SEK1.87 billion, up 1.8% year-on-year.
In ATG’s full-year presentation, published today (14 February), Skarplöth said growth could have been much greater had it not been impacted by Sweden’s gambling tax increase, which came into force in July.
Skarplöth said the recession, high household costs and higher interest rates had also hit ATG revenue in 2024.
Skarplöth urges re..
