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The Danish Gambling Authority said on Friday that the report stems from a broader review by FATF member countries over the past year.

The review examined the gaming sector and associated money laundering, terrorist financing and proliferation financing risks.

Spillemyndigheden said it contributed actively to this work and sat on FATF’s gaming sector working group. The regulator confirmed that many of the indicators in the report carry relevance for operators licensed in Denmark.

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Online sports would make up 48% of its adjusted EBITDA, followed by distributed gaming (27%) and casinos (25%).

Van Lancker said the merger would combine the strengths of both businesses to create a larger and more diversified company with “greater scale and enhanced capabilities” to accelerate growth and create value.

The enlarged group could deliver up to €4 billion in capital returns over the three years following the completion of the deal.

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The KVA’s statement mirrors a broader European regulatory trend where authorities are increasingly scrutinising how major internet platforms facilitate traffic to unlicensed gambling services.

In Sweden, Spelinspektionen recently flagged affiliates and social media as key channels for black market advertising and how affiliate networks redirect search traffic towards unlicensed operators.

Regulators have so far focused mainly on monitoring paid advertising. In Germany, the GGL credited an updated Google ad policy with reducing black market visibility. Yet, it acknowledged that illegal operators could still achieve visibility in organic search through SEO manipulation.