Danish gambling revenue up 7.4% in Q2

Danish casinos pushed up overall revenue.
Danish casinos pushed up overall revenue.

The recovery in land-based casino made up for a drop in online gambling revenue.

Denmark.- Danish gambling revenue came in at DKK1.69bn (€227m) for Q2, an increase of 7.4 per cent year-on-year. Revenue from online gambling and sports betting fell, but the reopening of land-based casinos after Covid-19 restrictions last year pushed overall revenue up.

The national regulator Spillemyndigheden reported that land-based casino revenue was up 163.4 per cent at DKK97m. Land-based slots revenue rose 95.4 per cent to DKK319m. However, online casino revenue, the largest source of gambling revenue, slipped by 1 per cent to DKK708m and sports betting revenue dropped 14.1 per cent to DKK565m.

Spillemyndigheden reported that 33,648 people registered on Denmark’s Register of Voluntarily Excluded Players (ROFUS). Earlier this week, the regulator commented on the results of a study into its gambling helpline, StopSpillet, which it launched in 2019. It said the results showed that the helpline was reaching its targets and meeting requirements.

The study shows that 87 per cent of callers are men and 35 per cent men between the ages of 18 and 25. It found that half of callers began gambling before they were 18, which the regulator said backed up other research that had found a correlation between gambling at an early age and developing an addiction.

Spillemyndigheden has confirmed that it will be involved in a new initiative against money laundering in the country. Led by the Ministry of Justice, the strategy will also involve Denmark’s Financial Supervisory Authority, Bar Council and the Danish Business Authority.

The Money Laundering Secretariat and Police Intelligence Services have identified currency exchange and money transfer, high-value goods, neo-banks, cryptocurrency, the gambling sector and some areas of the non-profit sector as those that pose the greatest risk for money laundering and terrorist financing.

In July, Spillemyndigheden reprimanded the online gambling operator Casumo for breaching the Danish Money Laundering Act through failings in its risk assessments. The regulator found that until March 11, Casumo did not have adequate identification and risk assessment of customer types.

Its risk assessments also failed to include separate identification and risk assessment for different types of products. The operator also failed to identify and risk-assess delivery channels as required because it had no risk assessment of its mobile app.

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