Danske Spil revenue and profit up amid lotteries growth in H1

Denmark’s Danske Spil reported a year-on-year increase in revenue during H1, helped by growth within its core lotteries business.

Group revenue for the six months to 30 June hit DKK2.55bn (£287.6m/€341.2m/$378.9m). This is 3.0% higher than the DKK2.47bn reported by Danske Spil in H1 of last year.

Danske Lotteri Spil, the group’s lottery business, generated DKK1.45bn in revenue during H1, up 5.9% year-on-year. It put this growth down to higher jackpots in the Eurojackpot game and additional draws compared to last year.

In total, Danske Lotteri Spil accounted for 56.9% of all revenue in H1.

Revenue from Danske Klasselotteri online lottery product, which merged with Danske Spil in April of 2022, also edged up 1.7% to €121m. This business only holds twice-yearly draws, with 65% of all ticket sales going into the prize fund.

Revenue level elsewhere for Danske Spil
Away from the core lottery business, Danske Spil reported relatively level across its other units.

Danske Licens Spil, which includes sports betting and online casino, saw revenue dip 0.5% to €826m. The operator said this is due to increased competition and a declining retail market.

Elsewhere, the Elite Gaming land-based slots and gaming hall business reported a revenue uptick of 0.7% to DKK148m. 

The other DKK1m came from the Swush fantasy sports platform. However, Danske Spil sold its 60% ownership stake in Swush to Danish tabloid newspaper Ekstra Bladet earlier this year. The sale generated an additional DKK27m in income during H1.

H1 net profit tops DKK1bn
In terms of spending, costs were up almost across the board. However, the rise in revenue meant operating profit was able to climb 7.4% to DKK1.25bn.

Income hit DKK22m, meaning a pre-tax profit of DKK1.28bn, a rise of 8.6%. 

After paying DKK275m in tax, Danske Spil ended H1 with a net profit of DKK1.00bn, up by 9.3% year-on-year.

As for future forecasts, Danske Spil said its full-year guidance remains the same. It expects to post revenue between DKK5bn and DKK5.20bn, while net profit should be in a range of DKK1.80bn to DKK1.90bn.