The Danish Gambling Authority has announced the final requirements for the Annual Accounts

On 16 January 2015, the DGA announced the final requirements for the Annual Accounts regarding the year 2014, which most Danish licence holders must prepare.

In November 2014, the DGA published their draft for information, which they requested as part of the Annual Accounts, and asked for comments to the draft. Following the hearing phase in November and December 2014, the DGA has now removed some requirements compared to previously.

The central elements in the DGA’s request for information in the Annual Accounts for 2014 are: 


  • Deadline for publication of the Annual Account on the website, from which the Danish licence holder provides its gambling, is 28 February 2015 (the Annual Accounts must be sent to the DGA too).

  • Key figures to be included are (the list is non-exhaustive): 
    • A comparison of the theoretical and the actual pay out per game and per category of game
    • Amounts, which have been withheld from players because of temporary gambling accounts, where the identity of the player has not been finally verified
    • The number of complaints and the average processing time

  • Explanations which have to be included in the Annual Accounts are (the list is non-exhaustive):
    • Management’s report
    • Responsible gambling measures
    • Approval procedures for marketing initiatives
    • Measures to reduce the risk of match fixing
    • Detailed description of other measures such as VIP programmes

The details of the DGA’s final requirements can be found in the DGA’s Newsletter no. 21

Compared to the requirements for the Annual Accounts for 2013, the DGA has for the Annual Accounts for 2014 removed the demand for publication of financial key figures; instead they have widened the scope of the “gaming-related key figures” that need publishing. 

Besides the requirement for information via the Annual Accounts, the DGA has stated that they will send an e-mail to all Danish licence holders by mid-March requesting additional, and more sensitive, financial key figures. These are, however, only for the DGA and not for publishing on the website.

The basis for the DGA’s draft request for information in the Annual Account is Section 43(2) of the Danish Gambling Act, which states that in the second and subsequent years of providing gambling in Denmark, Licensees will have to publish an Annual Account, which includes:

“(…) an annual account including the enterprise's key figures and a report on how the licence holder has complied with the legislative requirements.”

contacts

Nina Henningsen

Partner

Daniel Haue Jakobsson

Attorney