The latest data reveal the Denmark gambling revenue has recorded an increase in the last quarter of 2017.
Danish gambling watchdog, Spillemyndigheden, published a report revealing the gambling revenue in the fourth quarter of the last year had increased by 6.9% when compared to the same period of 2016.
Numbers Tell The Whole Story
Figures released show the revenue for online casinos rose by 16.7% when compared to the corresponding period of 2016, and 5% when compared to Q3 2016.
The situation is similar when it comes to sports betting, with a year-on-year rise of 29%, and an increase of 23.8% from the third quarter of 2017.
Further analysis shows land-based operation revenue recorded a drop of 3.3% in the last quarter of 2017, while the decline, when compared to the previous three-month period, was at 4.4%.
The arcade and restaurant gaming machine revenues also went down by 2.5% from Q3 2017, for a total loss of $1.33 million.
Due to a number of changes in Danish gaming policy, the total gaming revenues went up by 21.7% since 2014.
Addtional Growth Expected
When it comes to the lottery, experts agree the results could be better. However, this segment is still controlled by the state-owned Danske Spil. Up to now, the lottery has grossed around $515 million.
On the other hand, Danish market is more liberal when it comes to other sports betting operations, such as horse, dog and pigeon racing, as well as bingo, which helped in the rise of the overall revenue.
This liberal approach dates back to 2012 when Denmark lowered the licensing renewal fees and started a program for annual licensing of daily fantasy sports (DFS).
Denmark is trying hard to change its regulations in order to increase the revenues for online gaming. Many punters find it easier to gamble online, which is the main reason why the land-based operation revenues are not going up.
It is still hard to predict whether the investments in land-based operations will boost revenue. The key factor will likely be influenced by the success of online gaming.