Svenska Spel, a Swedish state-owned operator, has committed to investing more money in gambling research.
Svenska Spel has invested over SEK 60 million ($5.7 million) in gambling research since 2010, with the operator confirming that an additional SEK 42 million will be delivered over the next five years.
The move will help to fund Svenska Spel’s independent Research Council as well as Professor of Addiction Medicine Anders Hkansson’s Lund University gaming professorship until 2027.
SEK 25 million of the pledged funds are intended to directly fund research grants, with the operator setting aside SEK 8.5 million annually to support research work.
“The Research Council has been a driving force and a central part in establishing the research field around gambling problems in Sweden,” said Svenska Spel President and CEO Patrik Hofbauer.
“Many questions remain unanswered about how to best prevent and treat gambling addiction.”
With that in mind, our continued support feels appropriate from both a commercial and humanitarian standpoint.”
The Research Council was established in 2010 with the goal of increasing knowledge and awareness of gambling problems, as well as developing solutions to prevent them.
Svenska Spel has no influence on the Council, which is made up of researchers and representatives.
“Our research is about making early discoveries when it comes to gambling problems,” Hkansson added.
The investment allows us to expand and strengthen our efforts.”
Svenska Spel released its Q2 2022 financial results in July, reporting a 1% increase in net gaming revenue while decreasing total operating profit by 7% year on year.