Highly Competitive Danish Market on the Rise in 2016
Spillemyndigheden, the Danish gambling authority has published their annual report, which clearly showed the rise in gambling revenues.
Also, the data revealed the increase in online gambling revenues in 2016, which was marked as the key factor in the growth of the gross gaming revenue in Denmark.
Online Is the Place to Be
When compared to 2015 results, online casino gambling and sports betting brought 13% more money, or $5.3 billion. On the other hand, the overall rise of gambling revenues was 6% or $1.2 billion.
Let’s turn our attention to online casinos, which were the 2016 champions in revenues, earning $200 million – 34% more than in 2015. Online slots were the leading choice of online players, with 72% of all online casino revenues generated from this type of games.
The Land is Still Firm
There was a certain lack of interest when it comes to gaming machines in brick and mortar casinos. However, the fall of 3% to a total $213 million didn’t reflect much on a decent 8.5% overall growth of land-based operations.
The revenues from sports betting increased by 8.8% in the last year, although this result could have been better if the fourth quarter hadn’t performed so poor.
The fourth quarter was a winner for online poker, helping the overall operations to recover a bit from a record low performance in the third quarter. Still, the final score was a 10% drop in 2016 revenues.
The data shows that the rise in online gambling doesn’t necessarily have to be at the expense of the good ol’ brick and mortar casinos. Both land based and online operations show the potential for future growth, which will definitely reflect on the increase of revenues, both quarterly and yearly.