A look ahead
table now, especially with LeoVegas
and Mr Green being so successful.”
“I’m not sure it will have a direct
impact on Denmark and encourage
further entrants to that market,
but the fact that operators will be
fully licensed in Sweden is another
significant milestone for the sector
in Scandinavia. It will enable it to
grow in a fully open and regulated
jurisdiction.” “The size plus the entry barriers:
you need a licence, you need to be
compliant. It is just more difficult.”
Olsen from Kindred also believes
consolidation will happen in the
next few years, partly because
the growth rates of 20% plus are
unlikely to be sustained. “I prefer to
be realistic,” he says. “With a World
Cup this summer, we will probably
break records in 2018, but it is
unlikely that the current rates can
continue.”
Of course, within the broader
trends growth levels will vary as
new entrants and new brands
attempt to grab market share while
also potentially helping to grow the
market overall.
“Cautiously optimistic would
be the best way to describe my
outlook,” says Cochrane from
SBTech. He points out that while
factors such as sporting results
and macroeconomic conditions
will impact the market figures,
since 2012 Denmark has “proved
to be a market where sensible
regulation has fostered a healthy
and competitive environment.”
“Therefore, the working
environment for operators is
broadly positive and is why I believe
the growth rates of recent years will
continue,” he concludes.
Consolidation Next up in Denmark
I have spoken to a few
operators who say
they are looking at
Sweden and Denmark
together, perhaps taking
Sweden first and then
Denmark after that
Morten Ronde, Nordic
Gambling
Last year’s buyout of Dansk
Underholdning by Mr Green was
notable for being one of the few
pieces of M&A related to the Danish
market. The lack of consolidation
within the Danish-fac ing operator
space is a surprise to Weinreich
from LeoVegas. He suggests this is
likely due to the size of the market.
With a World Cup
this summer, we will
probably break records
in 2018, but it is unlikely
that the current rates
can continue
• June 2018: The latest survey from
DOGA will be released on black
market activity
• June 2018: Q1 statistics from the
Danish regulator
• June/July 2018: World Cup
• January 2019: Swedish online
market opens up
Kim Olsen, Kindred
Denmark: Insights and data on Europe’s pioneer model for igaming regulation
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