Swedish horseracing continues its fourth consecutive year of decline, as ATG’s latest financial report highlights ongoing struggles for the sector.
Horseracing income has steadily fallen, from SEK 4,200m in 2020 to SEK 3,894m in 2024, marking a consistent downward trend. The totalizator betting handle has also dropped for the fifth year, falling from SEK 16,500m in 2020 to SEK 15,834m in 2024, a total decline of 5%.
ATG’s leadership is now focused on securing urgent reforms. In 2025, the company will enter critical negotiations with the Swedish government to restructure its governance. Svensk Travsport and Svensk Galopp seek to remove state influence over ATG’s board, arguing that ATG must be independent to better serve the interests of Swedish horseracing and its long-term funding.
ATG’s leadership is also pushing for horseracing to be exempt from Sweden’s recent gambling tax hike, which increased from 18% to 22% in July 2024. The board argues that maintaining the lower tax rate is essential for the sustainability of Swedish horseracing and plans to redirect savings into upgrading the V75 betting system.
ATG is also preparing for expansion into Finland, where it plans to partner with Suomen Hippos (Finnish Trotting) if Finland liberalises its gambling market in 2026.
Despite challenges in horseracing, ATG reported overall corporate growth in 2024, driven by its sports betting and casino divisions. Net revenues grew by 2% to SEK 5,361m (€471.7m), compared to SEK 5,271m (€463.8m) in 2023.
Sports betting saw a 7% increase, reaching SEK 778m, while online casino revenue rose by 8%, reaching SEK 689m. Active customer numbers increased to 1.4m, up from 1.3m in 2023, largely due to enhancements in ATG’s digital platform, including a sportsbook upgrade with Kambi Group and the launch of 600 new casino games.
ATG’s operating profit reached SEK 1,812m (€159.46m) in 2024, up 1% from SEK 1,787m in 2023. Profit for the year also increased by 1% to SEK 1,480m. The company paid SEK 1,210m (€106.48m) in gambling tax, reflecting the impact of Sweden’s new higher tax rate.
Despite these financial pressures, ATG increased its direct contribution to Svensk Travsport, providing SEK 1,624m (€142.91m) in 2024, compared to SEK 1,596m (€140.45m) in 2023, marking a 1.75% increase.
ATG CEO, Hasse Lord Skarplöth, acknowledged the difficulties facing the industry, stating: “A turbulent environment has continued to affect ATG during the year. Our customers’ average spending has decreased, but we are pleased with customer growth to 1.4 million (1.3). This shows that our offering of exciting, fair, and smooth gaming experiences is strong. Net gaming revenue increased by 2 percent to SEK 5,361 million.”
With horseracing revenues in continued decline, ATG’s leadership is committed to securing regulatory and financial reforms to protect the sport’s future.
