Danske Spil CEO Niels Erik Folmann in a recent interview with Yogonet explained his philosophy of regulation and said how the right regulations could cause the Danish gaming market to grow.
Danske Spil is the operator of the Danish state lottery, which it has done since 2012. The company continues to grow, and has “exceeded all market share expectations,” according to Folmann. It recorded gross revenues of nearly $820 million last year.
Folmann commented, “Danske Spil has executed a very strong strategy in terms of maintaining our market share since regulation in 2012, exceeding all market expectations. We are now taking the next step towards faster growth by adding a new brand to our portfolio, targeting players who demand a deep sports and casino offering. SBTech showed a profound understanding of our needs during the RFP process. The sportsbook and casino platform looks good, as does the roadmap for new features, meeting our need for a partner that will drive the success of our new brand through cooperation and co-creation.”
Folmann said he believes other nations have been inspired by the success of Denmark’s gaming markets to imitate its regulation model—which has included clamping down on black and grey operators.
Folmann told Yogonet that the Danish Gambling Authority has issued 18 sports betting licenses and 41 casino licenses. “We have experienced fierce competition right from the start and have welcomed it since it’s in the best interests of players and the industry as a whole.”
He added, “The Danish taxation model is based on gross profits, casino is highly regulated and poker has international player liquidity, helping operators, both private and state-owned, generate margins and compete on a level playing field. This clearly shows that the right regulations can help stimulate growth in a regulated market.”
