Svenska Spel posts record profits

Svenska Spel AB, the Swedish government-owned and licensed gaming company, posted record profits for 2006. The online poker section, which opened in March 2006, has greatly contributed to the good result.

In total, Svenska Spel made a $685 million profit during 2006, the company's best result ever. According to CEO Jesper Karrbrink, the online poker section has been extremely successful.

"It has really fulfilled its purpose to bring home a big part of the Swedes' unregulated poker playing to a responsible environment within the country's borders," said Karrbrink in an interview with the newspaper Dagens Industri.

Even though Svenska Spel is doing well, Jesper Karrbrink wants to see changes on the Swedish gaming market.

"New gambling legislation through which all types of gambling are regulated is needed. Whether it's through a state monopoly, or a licence system where we compete with privately owned companies is up to the politicians to decide."

"With this record profit to back us up, we will feel pretty comfortable either way," Karrbrink said.

courtesy of Erik Sylven

News Added: 13 February, 2007

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