Svenska Spel collaborates with the Olympic Committee.
State-owned gaming company Svenska Spel has become the new primary sponsor of the Swedish Olympic Committee (SOK) after signing a contract worth over SEK 100 million (EUR 9.5 million). This deal comes with a six-year commitment that will end on December 31, 2026. As a result, Svenska Spel will collaborate with SOK on initiatives like supporting top athletes' development programs and talent hunting. They also plan to assemble a team consisting of athletes from various sports.
Svenska Spel's partnership with SOK shows the company's commitment to its position as a leader in the newly regulated Swedish gambling market. A few weeks ago, Svenska Spel supported SOK's bid to host the 2026 Olympic and Paralympic Winter Games in Stockholm, even though the Games were recently awarded to the Italian cities of Milan and Cortina d'Ampezzo. Regardless, the official sponsorship agreement was announced.
Svenska Spel President and CEO, Patrik Hofbauer, identified the SOK's diverse sponsorship portfolio as a reason for this partnership. He mentioned that the SOK currently has contracts with the Swedish Football Association, Swedish Ice Hockey Federation, Swedish Handball Federation, Swedish Floorball Federation, and Swedish Women's Hockey Federation. Hofbauer's statement to the media expressed:
"We want to participate and support in making the Swedish Olympians more successful, and we're determined to create the best possible conditions for this. The way the SOK promotes sport by being inclusive, welcoming, and open aligns with our belief in sport promotion."
Svenska Spel is also a partner of the Swedish Ski Association (SSF) in a six-year deal worth approximately SEK 80 million (EUR 7.6 million). SSF is responsible for all ski clubs in Sweden. The main focus of this contract is the promotion of the Olympic long-distance ski team, with 24 cross-country skiers aged 18 to 22. This team will now bear the name "Team Svenska Spel" and will be financially supported through various investments. Hofbauer highlighted how the Olympic long-distance ski team holds significant traditional importance for Sweden, saying:
"We're pleased and proud to collaborate with this team, which is one of the most popular Swedish teams ever. As the nation's largest sports sponsor, our goal is to support our national players and provide the athletes of Team Svenska Spel with the best possible conditions for success."
Hofbauer found further support from SSF's President, Ola Strömberg, who emphasized the importance of promoting children and youth sports. In this context, Svenska Spel is a benchmark on the Swedish market, as revealed in a press release:
"We appreciate that Svenska Spel is putting significant effort into encouraging more children and young people to be physically active. The opportunity to collaborate with a strong partner like Svenska Spel is invaluable in promoting our sport."
As Svenska Spel extends its reach in the sports sector, it's reinforcing its position as the leader in the newly regulated Swedish gambling market. In April, the Swedish Gambling Authority Spelinspektionen published business statistics for the first quarter since the market began in January 2019. Svenska Spel outperformed with approximately EUR 86.9 million in revenue, surpassing Malta-licensed private provider Kindred's earnings of just EUR 23.6 million.
Over 70 licenses have been granted on the Swedish market, including reputable providers such as Bet365, Mr Green, and Leo Vegas. It remains to be seen if Svenska Spel can continue to stand out in the race for the highest revenues amidst this competition.
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Source: www.onlinecasinosdeutschland.com
