Danske Spil Taking Ownership Over Tivoli’s Online Casino

Danske Spil, Denmark’s national lottery operator founded back in 1948, officially announced that it has signed a partnership deal with the company, Tivoli A/S.

Through this new deal, the operator will take over casino operations on the website, TivoliCasino.dk

More Details on the Agreement

This week, Danske Spil officials revealed that their company, which is by the way, run by Denmark…

…will pay a flat fee for obtaining Tivoli’s licensed online casino.

Under the agreement, it is mentioned that the company will still earn part of the revenue from the operations of the online casino during that period.

The deal is signed for the next ten years, while both Danske and Tivoli will have the opportunity to prolong it after a decade, if both sides think that it should be done.

Financial details of this deal are still unknown, but it is expected that a net benefit for 2019 will come at around DKK120 million (US$18 million).

More About Tivoli

Serving as a Danish company that is actually one of the country’s oldest businesses, it was established back in 1843 when the Tivoli amusement park opened to the public.

The company is still in charge of this venue, which is one of the oldest amusement parks in the world.

It is located in central Copenhagen and features hundreds of different rollercoasters, arcades, games, and rides.

The company decided to launch its first online casino seven years ago, back in 2012…

…just when Denmark government decided to liberalize its online gambling market.

It also launched an international gambling website 2014, but closed it two years after, because it wasn’t as successful as it was expected.

A Word from the CEO:

“In 2012 Tivoli established the online casino site TivoliCasino.dk, which quickly gained market share in a growing online casino market. It was a natural step for Tivoli to enter into this industry, as the Tivoli Gardens have offered games within its physical settings for more than 100 years.

With Danske Spil, Tivoli has found a strong partner which shares our values and possesses the qualifications needed to grow the brand further in a highly competitive market. We are convinced that the combination of Tivoli’s brand and Danske Spil’s commercial skills, will secure the continued growth of TivoliCasino.dk,” says CEO of Tivoli, Lars Liebst.

Danske Spil Director Pleased with the Deal

“The partnership with Tivoli makes great sense for us; like Tivoli, we are a brand the Danes know, and like Tivoli, our goal is to entertain and delight the Danes in a good and responsible way,” Danske Spil’s istrative director, Susanne Mørch Koch, said.

“Our core competencies are games. We can use it to develop Tivoli Casino, and take it to the next level for the benefit of both players and our new partnership,” she added.

Last year was actually great for Danske Spil. According to the company’s annual report, total revenue from online gaming saw a nice 8% year-on-year increase to DKK5.32b ($799.5 million)…

…while profits after taxes rose 6% to DKK1.75b ($262.7 million).

Those great results were partially due to the FIFA World Cup which took place last summer. It helped Danske to amass some great turnover of DKK878 million and also brought 20k new customers to the company.

Source:

“Denmark’s Danske Spil taking over Tivoli’s online casino”, Steven Stradbrooke, calvinayre.com, May 9, 2019.

“Danske Spil takes ownership of TivoliCasino.dk”, igamingbusiness.com, May 9, 2019.