Danske Spil H1 online revenues up 8%
Overall profits down due to disinvestments and rising costs
Danish state-owned operator Danske Spil has revealed an 8% rise in its online revenues for the first half of 2019, with revenues rising to DKK1.06bn.
Revenues from Danske Spil’s lottery division, which provides the lion’s share of Danske Spil’s income, fell by 9% to DKK1.24bn. The operators Swush fantasy sports business reported the biggest decline during the period up to 30 June, with revenues falling by 54% YoY from DKK8.5m to DKK3.9m.
Danske Spil’s Elite gaming business, which focuses on retail gaming and slots, reported flat revenues for H1, with revenues hitting DKK188.9m.
Total gross gaming revenues fell by almost 2% YoY during H1 2019 to DKK2.4bn from a previous H1 2018 high of DKK2.54m.
However, profits before tax fell to DKK1.05bn during H1, thanks in part to Danske Spil’s decision to divest its stake in the CEGO games development studio, which was announced in July and rising costs.
Despite the fall in revenues Danske Spil CEO Susanne Mørch Koch said she was “very pleased” with the company’s performance, highlighting increased digital development.
“All in all, this means that in the first half of 2019 we will continue to live up to our promises to Danish society and to our customers in the form of money for the Danish Treasury and for the distribution funds based on the constant striving to deliver the best and most of the market,” Koch added.
During H1 2019, Danske Spil agreed a 10-year deal to take over ownership of online casino TivoliCasino.dk from local amusement operator Tivoli A/S.
In July, Danske Spil confirmed that it would introduce mandatory deposit limits for all of its online customers, together with the launching of time limits during game play.