Denmark’s state-owned gambling business Danske Spil reported record results in 2019, while the nation’s gambling regulator continues to help fend off internationally licensed online competitors.

Danske Spil reported revenue of DKK5b (US$745.6m) in 2019, a decline of 1.6% from 2018’s result. The mainstay Danske Lotteri Spil lottery unit reported sales falling 3.8% to DKK2.56b, while the Danske Licens Spil online casino and sports betting business saw its sales rise 1.8% to just over DKK2b.

The online gambling business got a boost from last year’s acquisition of the online casino operations of land-based slots operator Tivoli A/S. However, online revenue slowed in the second half of the year following the imposition last July of new online deposit limits.

The Elite Gaming land-based slots unit saw its revenue slip 2.4% to DKK369m and Danske Spil said the expectation is that Elite’s revenue will continue to fall amid a shrinking market. The Swush fantasy sports division had a rough year, with revenue down 46% to just DKK8.8m.