Norway's State Online Casino Sets Record Profits

Norway, like Sweden and other European countries, has elected to run its own gaming company in order to attempt a more socially responsible outlet for gamblers

Another country that has opted to create its own state-run gambling operation, Norway, reported that 2007 saw record profits and revenues for the company. Norsk Tipping had revenue exceeding $2 billion for the year, of which over $600 million was profit.

Norway, like Sweden and other European countries, has elected to run its own gaming company in order to attempt a more socially responsible outlet for gamblers. The success of Norsk Tipping has proven that the state can compete effectively with foreign online operators.

Interactive gaming and slots remain the main draw for the Norweigan company. Online poker is not presently available. Other countries do offer poker as a staple of their online divisions.

Norsk saw an 8% gain in profit from the previous year, while revenues were up 9.2%. The interactive games operation exploded for a 48% increase.

Norsk contributed hundreds of millions to Norweigan social causes, including cultural and health-related donations. Millions were also spent to educate gamblers and prevent gambling addiction.