ATG’s revenue for Q1 2022 declined by 5.9%, amounting to SEK1.37bn. This decrease was mainly influenced by factors such as the cost of living crisis, inflation, and high interest rates. Hasse Lord Skarplöth, CEO of ATG, expressed his concerns about the challenging economic environment. Both horse racing and sports betting showed improvements, although horse racing experienced a decrease in revenue.
During this period, horse racing accounted for 75% of the net gaming revenue in Sweden and 23% in Denmark. Sports betting comprised 16% in Sweden and 23% in Denmark, while casino games generated 9% of the total revenue in Sweden and a significant 54% in Denmark.
The highest expenses during the quarter were attributed to other costs, totaling SEK613m. Gaming tax amounted to SEK244m, while personnel costs increased by 11.2% to SEK139m. Depreciation and write-downs of assets reached SEK78m, with an annual growth of SEK4m. Activated work for own account contributed an additional SEK19m.
As a result, the operating profit for the quarter was SEK317m, representing a decline of 15.7%. Including the results from financial terms, the pre-tax profit amounted to SEK321m. After deducting income tax of SEK13m, the total profit for the quarter reached SEK308m, reflecting a decrease of 16.3%.
