Swedish gambling operator Svenska Spel has implemented what it is calling “short-term work”, and withdrawn proposals for a dividend, in response to the ongoing COVID-19 (coronavirus) crisis.

The new “short-term work” measures are said to affect 45 our of 135 employees at the operators online division, Svenska Spel Sports & Casino AB, while 800 out of 900 employees have been furloughed across the company’s retail operations, including Casino Cosmopol AB and CC Casino Restaurang.

Though Sweden has, thus far, refrained from implementing a nationwide lockdown like most other European countries, gatherings of more than 50 people are banned.

Svenska Spel had proposed a dividend of SEK 850m (€77.76m), but this has now been scrapped.

Discussing the crisis President and CEO of Svenska Spel, Patrik Hofbauer, said:

“We are implementing the measures to adapt the business to the current situation and we do so with the utmost care of our employees.

“Our hope is to be able to quickly switch to full operations and staffing when the situation turns.

“But right now we do not know how it will develop in the future, or how long it will last, and therefore it is necessary we take steps to ensure a sustainable business.”

AYO.NEWS says:

As it dawns on operators, especially those heavily exposed to sports betting, that the COVID-19 crisis is likely to drag on for many months, we expect to see many more furloughs and lay-offs across the sector.

At the end of last week, SIS (Sports Information Services) announced it was closing all non-essential services and furloughing a “significant number”

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