The Danish Gaming Authority has provided the reports for 2020 in recent casino news. They have shown that the country’s gambling business suffers from considerable drops in revenue.
Of course, the main reason for this is the COVID-19 pandemic that has caused many unpleasant negative consequences in the land-based casino industry. In addition to casinos, sports betting shops have also experienced hard times in terms of income.
Are the figures so frightening?
According to Spillemyndigheden’s reports, the gambling industry revenue (for the last six months) has decreased by 19.2% (€362.6 million). If to consider only the second quarter, the market has had a 32.8% drop. The bookmaking sector’s revenue has also been cut by 19.6% (DKK1.01 billion) because of the cancellation of almost all sports events throughout the globe.
It is needless to say that virtual casinos are the only vertical that hasn’t suffered from the coronavirus as many players have switched to online gambling. Moreover, this sector has contributed to the total revenue considerably because its second quarter’s dividend is by more than six percent higher in comparison to 2019’s Q2. However, the overall increase rate seems to slow down a little bit as it has been higher before the pandemic.