Swedish gaming operator ATG has reported marginal top-line growth for Q1 of 2026, as a booming casino vertical managed to pull the group into positive territory despite a double-digit slump in sports wagering and a stagnant horse racing sector.
Mixed Vertical Performance
Group revenue for the three months ending March 31 reached SEK 1.38 billion (€128.3 million), representing a modest 1% increase year-on-year. The standout performer was the Casino segment, which saw revenue jump by 20%, increasing its share of total group sales from 9% to 11%.
Conversely, the Sports Betting vertical suffered an 11% decline, which ATG attributed to “negative sporting outcomes” that favored players over the house.
Despite the volatility, horse racing remains the bedrock of the business, accounting for 75% of all revenue. While the segment stalled with a 1% year-on-year decrease, generating SEK 2.26 billion, management remains committed to its role as the primary supporter of Swedish equestrian sports.
Efficiency Drives Profit Growth
While revenue growth was lean, the group’s bottom line told a more encouraging story. Operating profit surged by 22% to SEK 326 million, with margins improving to 23% due to effective cost-cutting measures and streamlined internal operations.
ATG CEO Hasse Forsberg highlighted the unique mission of the brand:
“Creating growth in horse racing is the biggest challenge we have ahead of us. ATG is fundamentally something special: a gaming company with a mission that goes beyond balance sheets and numbers. Our objective to generate income for Swedish trotting and galloping sports is being followed by the ideals that horse betting upholds: community, analysis, and presence in the experience itself. Our goal is still the same: we will be the gaming industry’s compass and the horse industry’s engine.”
By maintaining this focus in Q1, ATG aims to navigate a challenging market while ensuring that the “engine” of the Swedish horse industry continues to receive the necessary funding.
