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An Excellent Q3 for the Danish Gambling Market
- January 3, 2018 By Riley Wilson -
Danish gambling authority, Spillemyndigheden has released the figures for the third quarter of 2017, revealing the strong performance of the operators doing business in this jurisdiction.
The Q3 results represent a perfect follow-up to an already successful year for this Scandinavian market.
Figures Going Up
According to the latest figures, the three-month period ending on September 30, delivered a gross gaming revenue of $237 million. This represents a 2.4% increase from the previous quarter and a rise of 9.3% when compared to the corresponding period of 2016.
The published data reveal that the main driving force behind this jump was sports betting, with a 9% year-on-year increase in revenue ($93.3 million).
Land-based wagering accounting for a third of the gross gaming revenue (33.4%), with desktop applications far behind with 16.1%. Mobile was especially popular during the third quarter, especially when it came to sports bets, where it accounted for 50.5% of all wagers.
Both online casino and poker recorded a growth, with the combined revenue going by almost 20% on a year-on-year basis ($73.8 million). The slot machines contributed the most, with around two-thirds of revenue, with roulette and blackjack accounting for 15% and 12% respectively.
Online Poker Lagging
There is no good news when it comes to online poker. This vertical has failed to keep up with others in terms of revenue since the regulation of Danish market more than three years ago. The third quarter, unfortunately, hasn’t seen the improvement in revenue, since online poker managed to take home $5.01 million, 6.4% less than in the same period of last year. The latest figures mark the fourth consecutive quarter ended with a negative result and a new record low.
Land-based casino was pretty much at the same level when compared to the previous quarter and the corresponding period of 2016, with revenue of $15.4 million. Although gaming machines located outside of casinos recorded a sequential drop of 5% to $59.7 million, this figure represents a slight increase on a year-on-year basis.
Danish market is a very competitive one, and very appealing to some of the biggest names in the industry. The latest operator to enter it is the Maltese company Yggdrasil Gaming.