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Revenue edges up at Danske Spil in Q3

| By Robert Fletcher
Danish National Lottery operator Danske Spil reported a modest year-on-year rise in gross gaming revenue (GGR) for the third quarter of its 2022 financial year, despite a 9.8% dip in online casino and sports betting revenue.
Danske Spil Raketech

Total GGR for the three months through to the end of September amounted to DKK3.60bn (£421.5m/€483.8m/$473.1m), up 1.8% from DKK3.54bn in the corresponding period last year.

Danske Lotteri Spil, the operator’s lottery business, contributed DKK2.01bn to this total, a 1.1% drop from DKK2.03bn in 2021 but still by far the group’s primary source of revenue.

GGR from Danske Licens Spil, which includes sports betting and online casino, also fell 9.8% year-on-year to DKK1.23bn. The operator said that this was mainly due to the impact of new responsible gambling measures such as deposit limits, as well as a lower range of sports for betting in Q3.

However, these declines were more than offset by growth elsewhere. GGR from gaming hall business Elite Gaming jumped 70.2% to DKK223.0m, due to all pandemic-related restrictions having been removed in the country. Revenue from the Swush fantasy sports platform fell 33.3% to DKK10.0m.

Danske Spil also noted the impact of the Det Danske Klasselotteri, the “class lottery” that was integrated into the business in April 2022. GGR from this operation contributed DKK131.0m to the revenue total in Q3.

The group did not publish a full breakdown of its finances for the month, but it did reveal that state taxes amounted to DKK476.0m, dealer commission DKK329.0m and all other gambling-related costs DKK199.0m.

Other external costs reached DKK491.0m, personnel expenses stood at DKK248.0m and depreciation and amortisation totalled DKK174.0m. 

When also accounting for DKK91.0m worth of finance costs and DKK28.0m in other income, this left a pre-tax profit of DKK1.71bn, up 7.9% year-on-year. Danske Spil paid DKK357.0m in tax, leaving a net profit of DKK1.26bn, an increase of 2.9% on last year.

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