Online casino in Denmark hits new revenue record

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Credits: onlinecasinobonusexpert.com

The online casino market in the European country reached a new revenue record during the second quarter of 2017.

Denmark.- Denmark’s regulatory agency Spillemyndigheden released this week the second quarter results that showed that Danish-licensed operators generated gross gaming revenue (GGR) of US$234.5 million in the three month period ended June 30, a 4 percent rise when compared to the previous year and a new record high since the country legalised the industry five years ago.

As the regulatory body said, the increase was driven by record-setting performance by Danish licensed online casino and online poker operators, who reached a second quarter revenue of US$7.3 million, 16 percent up from the same period in 2016 and 20.3 percent higher than the first quarter of this year.

Casino winnings are reported even if online poker decreased revenue from US$5.9 million last year and US$5.6 million in the first quarter to US$5.3 million during the second quarter of 2017. The online poker market reached its high during the first quarter of 2014 when local operators generated approximately US$7.5 million.

Online casino games grew 18.5 percent and 11.7 percent growth in year-on-year and sequential growth respectively. From the online poker high in 2014, the online slots and table game revenue doubled, with slots accounting two thirds of online casino revenue and followed by blackjack and roulette.

On the other hand, sports betting revenue reported US$83.9 million, the results flat when compared to 2016 and the previous quarter, but it doesn’t necessarily mean that they’re bad results as 2016 counted with the Euro 2016 football tournament.

Moreover, land-based is the most important channel as it accounts for 53.9 percent of individual wagering transactions, the majority. Land-based gaming machines in gaming halls and dining facilities reported a 4.5 percent increase to US$62.2 million, whilst Denmark’s seven casinos generated US$15.3 million during the second quarter of the year.