Unexpected restrictions on the expansion of its online poker enterprises together with a slew of senior management changes were the reasons that the Swedish state gambling monopoly Svenske Spel delivered disappointing H.1 2008 numbers this week.

Although the firm reported that online gaming revenues from poker increased 12.6 percent while casino income showed a 9.6 percent increase, the net profit dropped 3.6 percent to $419 million. In addition, sports betting revenues declined by 1.6 percent.

The newly appointed MD, Anders Hagg, claims that the disappointing six-month results were the result of the falling world-wide economic situation together with increased competition from foreign gaming companies who were competing in breach of Swedish law.

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