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Annual Profits Up Eight Percent At Norsk Tipping

Norwegian State monopoly records its highest-ever revenues for last year thanks to interactive gaming.

Tuesday 22nd April 2008

Norway's State-owned Norsk Tipping monopoly achieved its highest ever revenues last year of over two billion dollars alongside an eight percent increase in annual profits to $618 million.

Founded 60 years ago to operate football pools, the company also reported that revenues from interactive gaming rose 48 percent to $138.6 million while its lottery products set new records. The firm also introduced keno in 2007, which contributed further to its results, alongside its traditional soccer pools enjoying their highest turnover for three years.

“In 2007, we passed over the magic turnover threshold of two billion dollars for the first time,” said Axel Krogvig, Managing Director for Norsk Tipping.

“This is hard evidence that we have managed to achieve our objective of channelling Norwegian gaming towards the responsible forms of gaming operated by Norsk Tipping.

“The record turnover also represents the best-ever result for the charitable and other organisations supported by our activities.”

The company stated that it had contributed $250 million to the Ministry of Culture and Church Affairs for last year alongside $43.8 million to the Ministry of Health and Care Services and $2.4 million towards problem gambling treatment services.

“We are happy to have this kind of confirmation that the gaming entertainment provided by Norsk Tipping continues to have great appeal to the Norwegian public,” said Krogvig.

“This means that we can continue to develop the gaming market in a socio-political desirable direction.”

 


Source: OnlineCasinoNews