Svenska Spel Reports “Healthy” Gambling Revenue for Greater Transparency

Svenska Spel’s Bold Move: Reporting “Healthy” Gambling Revenue to Set New Industry Standards

Imagine a gambling company not just following regulations, but setting the gold standard in responsible gaming.

Svenska Spel, Sweden’s premier gaming company, is taking a groundbreaking step by reporting revenue from “healthy” gambling behaviors.

Discover how this unprecedented move aims to transform industry standards, promote transparency, and protect players.

Dive into the details of Svenska Spel’s initiative and learn how it could reshape the future of responsible gambling.

Svenska Spel’s Bold Move: Reporting “Healthy” Gambling Revenue to Set New Industry Standards

In a significant stride towards promoting responsible gambling, Svenska Spel has announced it will begin reporting the share of its revenue generated from players with a “lower risk” of harmful gambling behavior. This initiative, spearheaded by President and CEO Anna Johnson, aims to set a high standard for responsible gambling and enhance transparency in the industry.

Setting New Benchmarks in Responsible Gambling

Anna Johnson stated, “Svenska Spel strives to be a gambling company that not only follows laws and regulations but also sets a high standard for responsible gambling.” To achieve this, the company will start including the percentage of healthy income in its interim reports. The first datasets will be published for Q2 2024 in August.

“This means that we show how much of our revenue comes from customers with a lower risk of gambling problems – customers who are in control of their gambling,” Johnson explained. This move highlights Svenska Spel’s commitment to fostering a safe and responsible gambling environment.

Implementing “New, Powerful Measures”

Johnson also emphasized the company’s ongoing efforts to strengthen its responsible gambling measures. She mentioned plans to implement “new, powerful measures” aimed at further increasing the share of healthy income. Acknowledging the gaming industry’s long-standing poor reputation, Johnson believes that increased transparency can demonstrate the industry’s ability to act responsibly.

Svenska Spel’s reporting will be based on risk models from its tool Playscan, which helps identify and mitigate risky gambling behaviors among players. By leveraging such advanced tools, Svenska Spel aims to set a precedent for other companies in the industry.

Call for Industry-Wide Standards

Johnson pointed out that Svenska Spel is not the first company to report such metrics. Several gambling companies with licenses in Sweden already report, in various ways, the percentage of healthy or unhealthy income. For example, Kindred Group began publishing its share of overall revenue derived from harmful gambling behavior in February 2021, in an effort to provide more transparency.

In October 2022, Svenska Spel, along with ATG and Kindred, started to publish data on dangerous gambling behavior among their customers. However, these reports do not include the share of revenue from these customers. “We, at Svenska Spel, have long worked for an industry-wide method for measuring healthy revenues. Despite many efforts, we were unable to get a turnout for one and we now feel we can’t wait any longer,” Johnson said.

Impact on the Gambling Industry

Johnson hopes that Svenska Spel’s decision will spark a renewed discussion in the industry about a common way to measure and report healthy income. This initiative is seen as a critical step towards improving the industry’s image and promoting safer gambling practices. By leading the charge, Svenska Spel aims to inspire other companies to adopt similar transparency measures.

The impact of such a move could be profound. Increased transparency not only builds trust with players but also encourages other companies to adopt best practices in responsible gambling. This can lead to a more sustainable and ethical industry, benefiting both the companies and their customers.

The Role of Technology in Responsible Gambling

The implementation of advanced tools like Playscan plays a crucial role in identifying and managing gambling risks. Playscan uses data analysis and machine learning to monitor player behavior and detect signs of problem gambling. This allows operators to intervene early and provide support to those who need it.

By utilizing such technologies, Svenska Spel can ensure that its approach to responsible gambling is both effective and efficient. This proactive stance helps to create a safer gambling environment, reducing the risk of addiction and related harms.

Building a Responsible Gambling Culture

Svenska Spel’s initiative is not just about compliance; it’s about building a culture of responsible gambling. This involves educating players about the risks of gambling, promoting healthy habits, and providing support for those who may be at risk.

The company’s efforts to increase transparency and accountability are key to this cultural shift. By openly reporting on the share of healthy income, Svenska Spel sets a powerful example for the industry, showing that it is possible to be both profitable and responsible.

The Future of Gambling Transparency

As the industry evolves, transparency will become increasingly important. Players are more informed and discerning than ever before, and they expect companies to act responsibly. By setting new standards in reporting and transparency, Svenska Spel is positioning itself as a leader in this new era of responsible gambling.

The company’s decision to report healthy income is a bold and commendable step. It not only highlights the importance of responsible gambling but also sets a benchmark for other companies to follow. As more operators adopt similar practices, the industry as a whole will become safer and more sustainable.

Conclusion

Svenska Spel’s commitment to reporting healthy gambling revenue marks a significant milestone in the gambling industry. By taking this bold step, the company aims to set new standards for responsible gambling and transparency. This initiative underscores the importance of using advanced technologies like Playscan to monitor and manage player behavior effectively.

As the industry moves towards greater transparency, Svenska Spel’s leadership will be instrumental in driving positive change. By fostering a culture of responsible gambling, the company is not only protecting its players but also setting a powerful example for the entire industry.

This move is expected to spark a renewed discussion about industry-wide standards for measuring and reporting healthy income. As more companies follow suit, the gambling industry will become more ethical, sustainable, and trustworthy, benefiting players and operators alike.