Svenska Spel Embraces Change: Rebrands Horse Racing Games and Closes Land-Based Casinos Amid Industry Evolution

Svenska Spel’s Strategic Rebranding Post Legal Ruling

In a pivotal move, Sweden’s Svenska Spel has announced the rebranding of its horse racing games to “Svenska Spel Hästar,” following a legal setback with the horseracing betting operator Aktiebolaget Trav och Galopp (ATG). This decision comes after the Swedish Supreme Court upheld a lower court’s ruling that Svenska Spel’s use of the phrase “Trav och Galopp” in its racing products infringed upon ATG’s company name, a term synonymous with “trot and gallop” in the racing world.

ATG CEO Hans Lord Skarplöth expressed his satisfaction with the Supreme Court’s decision, emphasizing the importance of protecting company names and reputations in the competitive landscape. Conversely, Svenska Spel Sport & Casino CEO Fredrik Wastenson assured customers that, despite the rebranding, their excellent horse racing offerings would remain unchanged, albeit under the new banner of Svenska Spel Hästar.

Adapting to Market Dynamics: Casino Cosmopol’s Closures

Amidst this legal and branding shift, Svenska Spel faces additional challenges in its land-based casino operations. The company has announced the closure of two of its three Casino Cosmopol venues, located in Gothenburg and Malmö, citing declining profitability and the rising dominance of online gaming. This strategic decision leaves only the flagship Casino Cosmopol Stockholm in operation.

The closures of these iconic casinos, which were heavily impacted by the Covid-19 pandemic and the surge in online gaming, will potentially affect around 200 employees. Svenska Spel has committed to engaging in negotiations with unions before finalizing its decision, reflecting the complex interplay between evolving consumer preferences and the need for corporate restructuring in the Swedish gaming industry.

Conclusion:

Svenska Spel’s recent announcements underscore the rapidly changing landscape of the gaming industry in Sweden. The rebranding of its horse racing games and the closure of key land-based casinos reflect a strategic pivot in response to legal challenges and shifting market dynamics. These decisions highlight the company’s adaptability and commitment to maintaining its position as a leading player in the Swedish gaming market, even as it navigates through a period of significant transformation.