Gambling Revenues in Denmark register a 7% year on year spike in 2017
As the gambling industry continues to thrive in Denmark, the local regulator, Danish Gambling Authority recently released its revenues data that suggests a substantial increase in the year on year figures for the fourth quarter in 2017 across the market. The revenues constitute integrated data for all forms of gambling including gaming machines, betting facilities, land based casinos and online gambling firms.
As per the data revealed by the DGA, the overall gross gaming revenues registered an impressive 6.9% year on year growth from 2016 to 2017. A major chunk of this increase could be attributed to the online gaming facilities that accounted a year on year increase of 16.7% that roughly equates to DKK 22.8 million or $3.79 million. The figures also directed an increase of 5% as compared to the third quarter of 2017. The aforementioned increase in the figures can be safely attributed to the consistent rise in the popularity of the online gaming community with more and more players preferring to try their gambling skill on the internet from within the comforts of their home.
Apart from the growth of the online gaming casinos, the sports betting facilities also registered substantial growth in the Danish market last year. The sports betting industry registered a staggering 23.8% rise over the third quarter in 2017 and more than 29% year on year in the last quarter from 2016. Given the fact that the Unites States is currently awaiting the Supreme court’s pending ruling on the repeal of the Professional and Amateur Sports Protection Act, the concept of sports betting is consistently registering a growth in popularity across several regions in Europe and North America.
The seven land based casino operators in Denmark experienced a 4.4% decline in revenues since the last quarter. As such, these figures reveal a lot about a possible shift in interest of the locals to more online based gambling portals as compared to live gambling facilities. The figures for the land based casinos also signaled at a year on year decline of 3.3% from 2016. In addition to this, both restaurant and arcade gaming machine profits also dipped 2.5% in the third quarter registering an overall loss of around $1.33 million and DKK8 million. Denmark has always been known for its progressive approach towards gambling and the policies have been quite accommodating for all forms of sports betting, horse racing and such.
