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Norway Announces New Distribution of Norsk Rikstoto Profits
The Norwegian Ministry of Food and Agriculture has established new regulations, formalising the revenue share received by the different national equestrian organisations from Norsk Rikstoto.
Under the new rules, the profits distributed to these various bodies will be formalised, with each organisation receiving a set percentage of the proceeds. This differs from the repealed regulations in which the ministry had far more discretion over where the profits were distributed.
Gambling on horse racing in Norway is supervised by the state-owned monopoly of Norsk Rikstoto, which collects all legal pari-mutuel bets on the vertical. The profits from this company are then shared among a variety of Norwegian equestrian organisations in order to support the sport.
The new regulations outline that the Norwegian Trotting Association, the national harness racing association, is to receive 82% of the profits. The ministry says that the grant will be used to support the development of Norwegian harness racing, horse breeding and keeping. This will be accomplished through grants to racetracks, prizes for those working in the industry, support for voluntary activity and investments in training facilities.
The ministry also say that Norwegian Gallop – the country’s horse racing association – will receive 9.2% of the profits from horse racing bets. This horse racing authority will be directed to use the money in a similar way to the Norwegian Trotting Association, by investing money in infrastructure and individuals involved in industry.
The final portion of the profits, amounting to 5.8%, will be distributed to the Norwegian Horse Centre, a foundation that aims to promote the quality of horse keeping and breeding. The ministry said it will provide further guidance to the organisation about how the use the funds.
The remaining 3% of the proceeds are to be awarded to equestrian bodies beyond the ones specifically listed by the ministry. In order to qualify, the organisation must be a non-profit that promotes Norwegian horse breeding, keeping and sports, as well as being in line with the state aid regulations.
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One of betting and gaming’s best-known customer acquisition and comparison businesses, Quantum, has announced the next steps in its ambitious growth plan by welcoming two new director-level appointees.
Joining the business are Dimitris Papamichael as commercial director and Luke Watkin as marketing director – both in newly created roles. They come in alongside a full C-suite and a full team of new tech hires that continues a recruitment drive which began in 2023 – and reflects Quantum’s rapid and consistent growth throughout the last five years.
Papamichael will be responsible for all revenue-generating activities across the business in a pivotal leadership role. He’ll shape Quantum’s commercial strategy as the company diversifies into new verticals while maintaining its strong position in the iGaming sector. He’ll also lead an expanding team of commercial and sales managers.
Watkin will lead the development and execution of the marketing strategy across all business verticals. As marketing director, he’ll be instrumental in shaping Quantum’s marketing vision, building scalable systems, and delivering commercial impact as it expands into new markets. Watkin will build and mentor a high-performing marketing team and is also tasked with driving further recruitment.
Speaking of the appointments and new strategic direction, CMO James McCarthy said: “It’s a pleasure to welcome Dimitris and Luke to Quantum during what is undoubtedly a really fascinating time in our growth. From cementing our relationship with some of iGaming’s biggest names to helping us expand into exciting new sectors, both of our new Directors will be integral to the continued success of the business.”
Papamichael said: “I’m thrilled to be joining Quantum at such an exciting stage of its incredible growth journey. The company has already achieved so much, and there’s huge potential ahead as we expand into new markets and sectors. I can’t wait to work with the exceptionally talented team here to seize the many opportunities ahead and drive the next phase of growth.”
Watkin said: “I am delighted to join a business with such a proven track record of excellence in its core markets, as well as highly ambitious plans for strategic expansion into new markets and territories. I am looking forward to contributing towards building on the exceptional progress the team has made to date, and accelerating that growth in the years ahead.”
This people news comes hot on the heels of the company’s exciting rebrand news of last week, moving toward the “quantum” in QiH Group” as well as redefining the business’ purpose and strategic direction.
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