Huge profit jump for Swedish gambling monopoly - Online Bingo News

While the arrest of Unibet CEO Petter Nylander is capturing the headlines, Sweden’s state-run gambling monopoly has announced record profits for its third quarter for 2007.

Svenske Spel has reported an amazing SEK 1.4 billion ($215 million) profit, a figure contributed to by the monopoly’s forays into the arena of online gambling which grew for the company during the year.  The spectacular jump in earnings is attributed largely to Svenska Spel's internet and telephone operations, with Internet online bingo doing particularly well.

"Gamers choose our secure poker platform over others, which is pleasing," said Jesper Kärrbrink, Svenske Spel’s CEO. "The positive pattern is continuing and we expect a record dividend for sports this year.”

Online bingo and free online bingo games are proving to be a big part of Svenske SPel’s current operations, but non-Swedish online bingo halls are currently restricted from operating bingo online in Sweden,

Svenska Spel was created through the merger of AB Tipstjänst and Svenska Penninglotteriet AB making it Sweden's biggest gaming company thanks to protectionist Swedish legislation. The company is completely owned by the Swedish state.

Written by John Witherspoon – Visit the best UK online bingo site. Bingostreet.com is your ultimate source for the best bingo games online.