Denmark Sets Gambling Revenue Record of $237M in Q3

Denmark’s gambling market continues to go from strength to strength, and following the record gross gaming revenue of DKK 1.462 billion ($234.5m) reported in Q2 has now improved on that amount by 2.4% to DKK 1.497 billion ($237m) for Q3 of 2017. The figure also represents an impressive 9.3% improvement over the same period of time last year.
Helping to drive the numbers higher was the industry’s sports betting segment which saw its revenue rise by 9% to DKK 577 million year-over-year, with bets placed at land-based operations accounting for just 33.4% of revenue, and via desktop applications a further 16.1%. Mobile channel revenue, on the other hand, continues to surge in popularity and in Q3 produced 50.5% of all sports bets.
Meanwhile, the country’s regulated online casino market, inclusive of poker, saw its revenue increase by almost 20% to DKK 456 million versus the previous year, although that figure was fairly flat compared to Q2. From that tally, slots produced around two-thirds of revenues, with roulette (15%) the next biggest vertical followed by blackjack (12%).
Nevertheless, online poker continues to suffer since Denmark regulated the industry back in 2014, and has fallen by around one-third since then, with 2017’s final revenue figure expected to be at least 12% below that generated in 2016. Overall, online poker produced just DKK 31.7 million in Q3, lower by 6.4% year-on-year, and marking four consecutive quarterly declines, and a record low for the segment.
Finally, the country’s land-based casinos generated DKK 95 million last quarter, which was flat on both a sequential and year-on-year basis, while gaming machines located outside of casinos contributed a further DKK 369 million in revenue, slightly up on last year, but nearly 5% lower sequentially.
Overall, the Danish gambling market is viewed positively by gambling operators, with the latest to acquire an online license being Yggdrasil Gaming, which is expected to offer its product during Q1 of 2018. As GVC Chief Product Officer, Liron Snir, commented after the news was announced:
“Denmark is an extremely competitive market, so Yggdrasil’s high-quality titles and industry-first promotional tools will give both our brands and our B2B partners a powerful edge.”