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Revenue edges up at Danske Spil amid lottery growth

| By Robert Fletcher
Denmark’s Danske Spil reported a year-on-year increase in revenue and net profit during its 2023 financial year following growth within its lottery division.
Danske Spil Raketech

Revenue in 2023 amounted to DKK5.04bn (£577.2m/€676.1m/$739.2m). This was up from the DKK4.98bn reported by Danske Spil in the previous year.

The Danske Lotteri Spil lottery division generated most revenue in 2023. Revenue here hit DKK2.87bn, an increase of 2.5% and a record annual total. Danske Spil put this down to the impact of new game launches and an extra Eurojackpot draw for players.

Mixed divisional results in 2023

Elsewhere, revenue in Danske Licens Spil, which includes sports betting and online casino, slipped 3.0% to DKK1.61bn for the year. This was blamed on an unusually high repayment percentage on sports bets, as well as a competitive market.

Revenue was also lower from Elite Gaming, the group’s gaming hall and land-based slots business. For 2023, revenue reached DKK289.9m, down 3.2% year-on-year. 

However, there was better news for Danske Klasse-lotteri, the “class lottery” integrated into the business in April 2022. Revenue here increased 30.1% to DKK250.4m.

In addition, Danske Spil posted figures for the Swush fantasy sports platform, with revenue down 27.3% to DKK11.7m. Incidentally, Danske Spil agreed to sell its 60% ownership stake in Swush to Danish tabloid newspaper Ekstra Bladet in January.

Net profit up 5.9% at Danske Spil

Looking at costs in 2023, state taxes totalled DKK644.7m, dealer commissions DKK459.6m and other gaming related entities DKK269.6m. This left DKK3.69bn in operating profit, a rise of 2.5%.

Danske Spil also reported DKK32.9m in other income, as well DKK247.5m in depreciation and write-downs and DKK1.16bn in other external costs and staff expenses. As for finance costs, these amounted to DKK33.9m.

Taking all this into account, Danske Spil reported a pre-tax profit of DKK2.35bn, an increase of 6.0%. After paying DKK526.5m in tax, the group ended 2023 with a net profit of DKK1.82bn, up 5.9% year-on-year.

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