Publication of an annual account
After the first year of providing gambling holders of a licence to betting or online casino shall send a report to the Danish Gambling authority. The following years, however, they shall publish an annual account including:
- The enterprise's key figures and
- A report on how the licence holder has complied with the legislative requirements.
When shall you publish?
The publication must take place two months after the closing of the financial year. As rules for a financial year might be different from country to country and the information which shall be published in the annual account has competitive aspects, the regulation must be interpreted in the way that the annual account must relate to the period from 1 January to 31 December for all licence holders.
The annual account for 2013 must be published no later than two months from today (the publication of this newsletter). This means that you no later than 26 May 2014 must publish the annual account concerning the period from 1 January 2013 to 31 December 2013.
Publication of key figures
The publication must cover general information and information about your provision of gambling. The information shall only cover the provision of gambling on the Danish market.
General information
The section must cover:
Profit and loss account, notes, including an explanation of the accounting policy used and the management’s review if any.
The publication must be supplemented by the management’s review giving account of any changes if considerable changes in the enterprise’s activities and economic situation take place during the year.
See the Danish Financial Statements Act (link is external) for an explanation of these terms.
Information about the provision of gambling
This section must cover:
The period when gambling has been provided in Denmark
The number of games provided at the end of the year divided into category of game
A comparison of the theoretical and actual pay out per category of game or per game
Amounts which have been withheld from players because of temporary gambling accounts where the identity has not been finally verified
The number of complaints received from players.
The gambling categories are:
- Roulette
- Baccarat
- Punto banco
- Black jack
- Gaming machines
- Poker
- Combination games
- Fixed odds betting
- Pool betting
- Electronically simulated sports games
What should the report cover?
At the same time you must publish a report on how you have complied with the requirements of the Act of gambling. The report must contain information about the compliance or non-compliance of the requirements of the act but also the requirements in the relevant executive orders (executive order on online casino, executive order on online betting and executive order on land-based betting).
The report must as a minimum contain:
- § 36 about marketing supplemented by a report on the requirements for bonus in the executive orders
- The provisions concerning responsible gaming
- The fight against money laundering and terrorist financing (online casino)
- Measures to reduce the risk of match fixing (betting – if you provide land-based betting it must be stated specifically)
- Processing of complaints. A complaint is defined as a player who does not agree with the enterprise’s processing of a case or the result of that.
It must be stated in the report how you have complied with the legislative requirements e.g. by describing your procedures. If you have observed non-compliance, you must explain how you are going to ensure that you comply with the regulations in the future.
Other information
Furthermore you can publish other figures which might be of public interest. In the estimation of which figures you are publishing you must include which figures might be of public general interest, such as professional organisations like problem gambling organisations, sports organisations etc. This could be i.e. the number of players, age composition, spending per player etc.
The information must show a reliable image of the provision of gambling.
Formal requirements
The annual account must be in Danish.
When the annual account has been completed, it must be signed by a person authorised to sign for the enterprise. This person must with his signature declare that the annual account gives a true account of the circumstances that the account treats.
For enterprises which are not established in Denmark or in another EU or EEA country, the annual account must also be signed by the Danish representative.
It is not a requirement that the annual account is elaborated in corporation with an approved enterprise.
Where shall the publication take place?
The publication shall take place on the domains where you have a licence to provide gambling. The account must be immediately available for a minimum of 5 years.
When your publication has taken place you must send information to the Danish Gambling Authority about where you have published the annual account. The information must include documentation for who is the person authorised to sign for the licence holder.
Provision of gambling in Greenland
If you have a licence to provide gambling in Greenland, the annual report must also cover this provision of gambling.
Especially for income restricted licences
Holders of these licences are not covered by the requirement to publish an annual account.
Regulations
You find the regulation in the Act on Gambling, section 43 (2), and Act for Greenland on certain games, section 22 (2).