Ladbrokes has announced that it has halted operations in Denmark as of July 7 and will leave the Danish gambling market. The bookmaker confirmed the news in a statement on the Danish version of its website, informing Danish players that they have until July 31 to withdraw any remaining funds from their accounts.

The website has already stopped accepting new customers and will no longer process any new bets. Although Ladbrokes did not confirm in the statement the reasons behind its exit from Denmark, various reports have suggested that the bookmaker had not been reaching its profit targets in the country.

“We are writing to you to inform you that Ladbrokes.dk will stop operating in Denmark,” the Ladbrokes statement said. The move to exit the Danish gambling market is reflective of the increased aggression of governments as the industry heads toward industry regulation.

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