Record Revenues for Denmark in Q3 Promise Robust Times AheadPublished December 29, 2017 by Lee R
The online model seems popular to players, and punters, in Denmark.
Another Scandinavian jurisdiction is thriving in regulation, with a unique model of revolving strength.
Denmark’s New High
Denmark has added robust Q3 figures to a year that was already going along swimmingly.
The Figures Are In
The fact is, Q2 had already delivered a record gross gaming revenue figure of DKK 1.462 billion ($234.5m), only to see the best bettered by 2.4% to DKK 1.497 billion ($237m) for Q3 2017, also good for a year-on-year improvement of a resounding 9.3% from Q3 2016.
Sports Betting Carries Day
The key driver was sports betting, a segment where revenue climbed 9% to DKK 577 million year-on-year,
Outshining Land and Desk
At the same time, land-based wagering accounted for 33.4% of GGR, and desktop applications 16.1%. The contribution from mobile channel revenue contribution surged to over half in Q3, at 50.5% of all sports bets.
Online Casinos Popular Too
Online casino including poker jumped as well, with revenue increasing almost 20% year-on-year to reach DKK 456 million, which held steady from the already strong Q2. Among that take, the biggest contributor was slots at approximately two-thirds of revenues, followed by roulette (15%) and blackjack (12%).
Online Poker Gap
The one area of improvement remains online poker, which has been lagging since the inception of Danish regulation in 2014, and has fallen a good third since, with that vertical projected to bring in a paltry DKK 31.7 million for Q3, representing a 6.4% year-on-year drop for the fourth consecutive quarterly decline and new record low.
Land-based casinos took in DKK 95 million last quarter, a figure which matched sequential and year-on-year growth totals, with gaming machines located outside of casinos good for DKK 369 million, dropping 5% from Q2 though still slightly ahead of last year’s revenue level for the same period.
The Danish market remains appealing, with up-and-coming provider Yggdrassil the latest iGaming leader to seek a Danish license, introducing its products to the Dutch market by Q1 of 2018. GVC Chief Product Officer Liron Snir called the Danish market “extremely competitive.”
The Sports Betting Impact
Sports betting will remain the key driver of growth, and with all the upcoming sporting activity on the horizon, underscored by the World Cup 2018, Denmark should enjoy continued growth and operator appeal for the year to come.