Norsk Tipping’s Annual Result Approved

NORWAY (April 18, 2024) — Norsk Tipping’s profit for 2023 ended at NOK 7,087 million. It is clear, after the general meeting approved the company’s accounts and annual report on Tuesday.

The profit is distributed by the Ministry of Culture and Equality in accordance with the distribution key set out in the Gambling Act. This gives the following distribution (figures in NOK million):

* Distributed for health purposes, sports, culture and for humanitarian and socially beneficial purposes .

The company’s net turnover increased by 3.1 per cent last year, from NOK 8,989 million to NOK 9,270 million, while the profit to be paid out increased by 7.6 per cent. The profit is a result of efficient operations, and that we succeed in directing more of the gaming activity in Norway to the regulated offer. Almost 2.2 million people played at Norsk Tipping in 2023, more than ever before.

– Last year was a turning point for the regulation of gambling in Norway, and thus also for Norsk Tipping. With the help of the new Gambling Act that came into force on 1 January 2023 and our wide range of games, we are succeeding in managing an increasingly large proportion of the gambling of the legal players. It is important for the work to prevent gambling problems, says CEO Tonje Sagstuen.

She is clear that there are considerations other than financial earnings that govern the company.

– It is nice for the socially beneficial purposes that the profit has kept up with the price trend. Nevertheless, there can be no doubt that it is the preventive role that is our most important function. The population survey from last year produced promising results, with a sharp reduction in the number of people with gambling problems. At the same time, we see that many have a more vulnerable economy now than just a year ago. It can lower the threshold for when consumption of gambling can become a problem, and we are wary of that, says Sagstuen.

Read Norsk Tipping’s annual and sustainability report here.