Revenue in the finance sector reached DKK3.69bn (£431.6m/€494.4m/$528.7m) during the three months to 30 September, showing a growth of 2.4% compared to Q3 2022. This increase was mainly driven by the success of Danske Spil’s lottery operations.
The primary source of revenue for Danske Spil was Danske Lotteri Spil, which generated DKK2.07bn, a 3.1% increase from the previous year. This growth can be attributed to better Eurojackpot sales, including larger jackpots and new Tuesday draws. However, revenue from Danske Licens Spil, which includes sports betting and online casino, reached DKK1.21bn, experiencing a 1.6% decline. Danske Spil reported improvements in casino activity but a decline in sports betting, partly due to responsible gambling initiatives such as lower deposit limits.
Danske Klasse-lotteri, the “class lottery” integrated in April 2022, saw a significant increase in revenue, reaching DKK183.0m, a 39.7% rise from last year. On the other hand, revenue from Elite Gaming, Danske Spil’s gaming hall business, fell by 2.7% to DKK217.0m. Additionally, the Swush fantasy sports platform reported revenue of DK11.0m, a 10.0% increase.
In terms of spending, Danske Spil allocated DKK477.0m for state taxes, DKK318.0m for dealer commissions, and DKK197.0m for other gambling-related costs. Personnel costs amounted to DKK273.0m, while depreciation and write-downs accounted for DKK153.0m. Other external expenses totaled DKK544.0m.
After accounting for additional income and financial income, Danske Spil achieved a pre-tax profit of DKK1.76bn in Q3, an 8.6% increase compared to the same period last year. The operator paid DKK387.0m in tax, resulting in a net profit of DKK1.37bn, which represents an 8.5% growth.
Looking ahead to the full year, Danske Spil maintains its guidance, expecting revenue to range between DKK5.0bn and DKK5.2bn for the 12 months ending on 31 December. Net profit is projected to be between DKK1.7bn and DKK1.8bn.
