As net profit declines in Q1, Svenska Spel is impacted by casino closures.

Sweden's Svenska Spel reported a 24.6% drop in net profit for Q1, hitting SEK294.0m, due to casino closures, and a slight revenue decline.

The company closed two Casino Cosmopol sites in Gothenburg and Malmo, affecting profits.

While lottery revenue grew, declines in the Sport & Casino and Casino Cosmopol & Vegas segments offset gains. Online revenue rose by 5.8%.